You are here: Home » International » News » Companies
Business Standard

Facebook beats Q2 estimates with 11% growth in revenue despite coronavirus

Ad sales, which contribute nearly all of Facebook's revenue, rose 10% to $18.3 billion in the Q2 as people under lockdown spent more time online

Topics
Facebook | Q2 results | Facebook shares

Katie Paul & Subrat Patnaik | Reuters 

Facebook Inc beat analysts' estimates for quarterly revenue on Thursday and forecast similar growth ahead, as businesses tapped its digital ads tools despite an unprecedented boycott and the economic upheaval of the coronavirus pandemic. Facebook shares jumped 7% in extended trading after the world's biggest social network posted revenue growth of 11%, its slowest ever but still far above analysts' expectations of 3%, according to IBES data from Refinitiv. Ad sales, which contribute nearly all of Facebook's revenue, rose 10% to $18.3 billion in the second quarter as ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, July 31 2020. 08:52 IST
RECOMMENDED FOR YOU
.