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)

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