UPDATE 3-Facebook beats profit estimates, sets aside $3 bln for privacy penalty

Facebook Inc on Wednesday blew
past Wall Street profit estimates in the first quarter and set
aside $3 billion to cover a settlement with U.S. regulators,
calming investors who had worried about the outcome of a
months-long federal probe.

JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/mwxp6t5WwgY/update-3-facebook-beats-profit-estimates-sets-aside-3-bln-for-privacy-penalty-idUSL3N2264UK