Facebook Surges After Big Q2 Earnings Beat, 12% User Growth
Shares of Facebook, Inc. (NASDAQ: FB) traded higher by more than 8% after reporting second-quarter results.Q2 Review: Facebook said it earned $1.80 per share in the second quarter on revenue of $18.69 billion. By comparison, Street analysts were expecting Facebook to earn $1.39 per share on revenue of $17.4 billion.Advertising revenue, the bulk of sales, rose from $16.624 billion last year to $18.321 billion. "Other" revenue rose from $262 million to $366 million.Net income rose from $2.616 billion last year to $5.178 billion, while operating margin improved from 27% to 32%.Total costs and expenses were 4% higher year-over-year at $12.724 billion.Operaetional Update: Facebook noted that daily active users (DAUs) averaged 1.79 billion in June, up 12% year over year. Monthly active users (MAUs) were up 12% to 2.7 billion over the same time period.Cash and cash equivalents and marketable securities at the end of the quarter was $58.24 billion. Of particular note, the company paid approximately $5.8 billion on Ju
30 Jul 2020 ... Outlook: Facebook noted advertising revenue growth in the first three ... Democratic and independent rivals' constituencies often skip voting.