Facebook Posts Strong Earnings, Revenue Growth
July 24 2019 - 4:52PM
Dow Jones News
By Jeff Horwitz
Facebook Inc. pushed past a record-setting privacy fine in the
second quarter, posting strong earnings that show the resilience of
its social-media empire despite persistent negative headlines.
The tech giant recorded $16.9 billion in revenue, up 28% from a
year ago. The company posted $2.6 billion in profit, or $0.91 a
share, reflecting a one-time $2 billion charge as part of its $5
billion settlement with the Federal Trade Commission and an
accounting change regarding tax deductions for stock-based
compensation. Without those two charges, the company would have
earned $1.99 a share, beating analysts' expectations of $1.88.
(END) Dow Jones Newswires
July 24, 2019 16:37 ET (20:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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