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Facebook: 2Q Earnings Snapshot

July 30, 2020 GMT

MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Thursday reported second-quarter net income of $5.18 billion.

On a per-share basis, the Menlo Park, California-based company said it had profit of $1.80.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.

The social media company posted revenue of $18.69 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $17.29 billion.

Facebook shares have risen 14% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $234.50, an increase of 19% 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