Following record FTC fine, Facebook stock pops on Q2 earnings beat – TechCrunch

No Comments


Hours after receiving a record $5 billion FTC fine on privacy violations, Facebook delivered a Q2 earnings beat with revenue of $16.9 billion with $1.99 adjusted EPS compared to the Zacks Consensus Estimate of $1.90 EPS on revenue of $16.45 billion.

Facebook reported it has 1.59 billion DAUs and 2.1 billion daily active users of its family of apps. The U.S. & Canada and Asia-Pacific contingents continued to see nearly flat growth while the company saw quicker growth in its European and “Rest of World” sectors.

The company’s stock was up around 3% in after-hours trading.

Facebook detailed that it will be paying a $5 billion FTC fine and submitting to certain stipulations, as was confirmed this morning, but for those hoping this agreement signaled the end of Facebook’s FTC troubles, the earnings report detailed that may not be the case. The release disclosed that last month the FTC opened an antitrust investigation of Facebook; this news follows reports of a DOJ investigation into the company — among others — as well.

“The online technology industry and our company have received increased regulatory scrutiny in the past quarter,” the earnings release reads. “In June 2019, we were informed by the FTC that it had opened an antitrust investigation of our company. In addition, in July 2019, the Department of Justice announced that it will begin an antitrust review of market-leading online platforms.”



Source link

Facebook really doesn’t want you to read these emails – TechCrunch

Oh hey y’all, it’s Friday! It’s August! Which means it’s a great day for Facebook…

Pew: mobile and social media users in emerging markets have more diverse social networks – TechCrunch

The latest study from Pew Research Center takes a look at the impact mobile technology,…

Tumblr’s next step forward with Automattic CEO Matt Mullenweg – TechCrunch

After months of rumors, Verizon finally sold off Tumblr for a reported $3 million —…

How Video Content Can Help You Boost Your Google Rankings

Google’s search algorithms are inclined to deliver a good user experience. That’s why you need…

About us and this blog

We are a digital marketing company with a focus on helping our customers achieve great results across several key areas.

Request a free quote

We offer professional SEO services that help websites increase their organic search score drastically in order to compete for the highest rankings even when it comes to highly competitive keywords.

Subscribe to our newsletter!

More from our blog

See all posts
No Comments

Leave a Comment