Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday, a...
- Facebook Inc beat analysts’ estimates for quarterly revenue on Wednesday, aided by growth in its Instagram business and a surge in advertising sales, while also setting aside up to $5 billion to cover anticipated official U.S. privacy penalties.
Monthly active users rose 8 percent to 2.38 billion, beating estimates of 2.37 billion, according to IBES data from Refinitiv. But excluding items including the potential FTC penalty, the company earned $1.89 per share, better than analysts’ expectations of $1.63 per share.
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