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Facebook Q2 Earnings Beat But $5B Settlement & Investigation Surfaces

By John F. Heerdink, Jr.

Facebook (FB) announced its Q2 2019 earnings on Wednesday this week, beating analysts’ expectations. The social media giant also announced that the Federal Trade Commission (FTC) has opened an antitrust investigation in addition to the earlier $5 billion privacy settlement over Cambridge Analytica Scandal.

“We are investing in building stronger privacy protections for everyone and on delivering new experiences for the people who use our services,” stated CEO Mark Zuckerberg.

Apart from FTC investigations, Facebook has been in constant scrutiny by the European Union and government for charges like the breach of user privacy and data collection.

Analysts’ Predictions Reported :

• Revenue of $16.5 billion was anticipated with an EPS of $1.88.
• Daily active users of 1.57 billion and monthly active users of 2.42 billion were anticipated.

Results Reported:

• Revenue of $16.9 billion was reported with an EPS of $1.99.
• Daily active users of 1.59 billion and monthly active users of 2.41 billion were recorded.






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July16(15)

Facebook beats Q2 expectations, says FTC has opened an antitrust investigation

Facebook announced its Q2 2019 earnings on Wednesday…

finance.yahoo.com

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