Facebook announced its second-quarter earnings after the long-negotiating $5 Billion Federal Trade Commission (FTC) penalty was finalized. Facebook generated $16.9 billion in revenue in the second quarter and wrote $1.99 per share.
Zacks Consensus expected Facebook to make a total of $16.45 billion in the second quarter, up $1.90 per share. Facebook, however, exceeded this expectation with the figures it announced.
Facebook’s daily active users reached 1.59 billion, while Facebook’s family of apps, including Instagram, WhatsApp and Messenger, reached 2.1 billion daily users.
The growth of the US, Canada, and Asia-Pacific regions has been highlighted, with the European and Rest of the World tab showing the company growing faster.
In the meantime, Facebook’s shares increased by 3 percent after the stock market close.
Although Facebook’s announcement that it will pay a 5 billion FTC penalty and publish second-quarter earnings reports may seem like a closure for the Federal Trade Commission, it is possible to say that the company will be credited with new lawsuits in the future.
The Federal Trade Commission launched an antitrust investigation against Facebook last month, while the Justice Department filed a new lawsuit against the company for antitrust surveillance.