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Mubasher: Facebook's revenues increased 28% in the second quarter, but profits fell by almost half, but business results were better than expected.
Net income fell to $ 2.616 billion ($ 0.91 per share) in the quarter ending June, compared to $ 5.106 billion ($ 1.74 per share) for the same period of the year last, announced the company in a statement. Last year.
Adjusted earnings per share after exclusion of non-recurring items was $ 1.99 in the second quarter of 2019, compared with a forecast of $ 1.88.
The company's total revenues increased 28% to $ 16.886 billion in the quarter ended June, compared to $ 13.231 billion for the same period in 2018.
According to estimates, Facebook is expected to record a turnover of about $ 16.5 billion during the last quarter.
Facebook advertising revenue rose to $ 16.624 billion from April to June, compared to $ 13.038 billion for the same period in 2018.
The company said in its results that it had incurred $ 2 billion in royalties in the second quarter related to the FTC settlement.
The Federal Trade Commission today approved a $ 5 billion fine on Facebook for the resolution of privacy charges.
Facebook ended the greenback session at $ 204.66, with gains of 1.1%, but futures are up about 2%.
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