Facebook subsidiary fined €470m for violating intellectual property rights

Facebook's virtual-reality subsidiary has been fined nearly €470m for violating intellectual property rights.

A court in the US ruled the co-founders of Oculus infringed on ZeniMax Media's trademarks as they built their virtual-reality gear and software.

Facebook CEO Mark Zuckerberg has denied the firm stole any of its technology - while Oculus says it will appeal.

Meanwhile - Facebook has revealed revenues have risen by more than half in the last year, as the number of monthly users reaches 1.86bn.

The technology giant, which also owns Instagram and WhatsApp has brought in 25.6bn in the last year.