AP NEWS
Click to copy
Click to copy

Facebook: 2Q Earnings Snapshot

July 24, 2019

MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported second-quarter earnings of $2.62 billion.

The Menlo Park, California-based company said it had profit of 91 cents per share. Earnings, adjusted for non-recurring costs, were $1.99 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.

The social media company posted revenue of $16.89 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $16.45 billion.

Facebook shares have risen 56% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Wednesday, shares hit $204.55, a drop of roughly 5% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FB

All contents © copyright 2019 The Associated Press. All rights reserved.