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Facebook: 2Q Earnings Snapshot

July 25, 2018

MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported second-quarter profit of $5.11 billion.

The Menlo Park, California-based company said it had profit of $1.74 per share.

The results missed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The social media company posted revenue of $13.23 billion in the period, also falling short of Street forecasts. Fourteen analysts surveyed by Zacks expected $13.43 billion.

Facebook shares have increased 23 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6.5 percent. In the final minutes of trading on Wednesday, shares hit $217.50, an increase of 32 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FB

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