Wednesday , September 28 2022

Facebook earnings and earnings exceed expectations in the second quarter


Direct: Facebook's revenue rose 28 percent in the second quarter, but profits fell nearly half, but business results are better than expected.

Net profit fell to $ 2.616 billion ($ 0.91 per share) in the three months to June, compared with $ 5.106 billion ($ 1.74 per share) for the same period last year, the company said in a statement. Last year.

Corrected earnings per share after excluding recurring positions is $ 1.99 in the second quarter of 2019 against $ 1.88.

The company's total revenue rose 28 percent to 16,886 billion dollars in the quarter to June, compared with 13,231 billion dollars for the same period in 2018.

According to forecasts, Facebook is expected to record revenue of about $ 16.5 billion in the last quarter.

Revenue from Facebook advertising was $ 16,624 billion for the three months from April to June, compared to $ 13,038 billion for the same period in 2018.

The company said in its results that it had incurred $ 2 billion in second-quarter fees related to FTC settling.

The Federal Trade Commission has today approved a $ 5 billion fine on Facebook for confidentiality fees.

Facebook ended the US dollar session at $ 204.66, gaining 1.1%, but futures rose by about 2%.

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