The European Union's General Data Protection Regulation (GDPR) went into effect on May 25 this year, requiring companies like Facebook (NASDAQ: FB) to update their privacy policies and enact new practices in an effort to better protect European user data from inappropriate use. At the same time, Facebook was still dealing with the fallout of the Cambridge Analytica debacle that resulted in the data of tens of millions of users falling into unauthorized hands.The impact did not go unnoticed on Facebook's second quarter earnings.