Feb 1, 2017

Facebook profit surges as user base grows

The results threatened to be overshadowed by reports that a US jury had ruled against Facebook in a case over its virtual reality business. Facebook said it was "Disappointed" by aspects of the verdict but was "Undeterred". "The heart of this case was about whether Oculus stole Zenimax's trade secrets, and the jury found decisively in our favour," a Facebook spokesperson said. Oculus was bought by Facebook in 2014, and is seen as a major part of the firm's strategy over the next 10 years. Zenimax Media was suing Facebook for $2bn, arguing its early innovations in VR were unlawfully copied when Oculus built the Rift headset.

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