Facebook sees mixed Q2 earnings with slowest-ever growth amidst backlash

Facebook sees mixed Q2 earnings with slowest-ever growth amidst backlash

6 years ago
Anonymous $RBasgWKaIV

https://techcrunch.com/2018/07/25/facebook-q2-2018-earnings/

Facebook succumbed to the public backlash over its handling of fake news, privacy, and digital wellbeing to miss Wall Street’s estimates in its Q2 2018 earnings, it’s first. GDPR, Mark Zuckerberg’s testimony before congress, and more scandals didn’t stop Facebook from reaching 2.23 billion monthly users, up 1.54 percent, much slower than Q1’s 3.14 percent growth rate. Facebook earned $13.23 billion in revenue with $1.74 EPS compared to Thomson Reuters consensus estimates of $13.36 billion and $1.72 EPS.

Daily active users reached 1.47 billion, up 1.44 percent percent compared to Q1’s 3.42 percent. Facebook’s daily and monthly user counts were up 11 percent year-over-year, confirming that the momentum of its business is still overpowering its PR problems.

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