Shares of the social-networking behemoth dip slightly in the extended session Wednesday after it announced second-quarter results that beat analysts’...
An antitrust probe of Big Tech, a record Federal Trade Commission settlement, another settlement with the Securities and Exchange Commission, confirmation that it is being investigated by the FTC and Department of Justice — none of it seems to faze Facebook Inc. investors.
A record $5 billion settlement with the FTC, announced early Wednesday, left a mark. Facebook recorded a $2 billion charge in the second quarter, after absorbing a $3 billion hit during its previous quarter. Excluding those charges, Facebook would have earned $1.99 a share. The revenue and ARPU spikes highlight what Wedbush Securities analyst Michael Pachter expects to be revenue and profits growth for “many years,” largely through expansion overseas and increased monetization of Facebook properties Instagram, WhatsApp and Messenger. In a research note to clients Monday, Pachter maintained an outperform rating and $220 price target on Facebook shares.
“Their ad machine is going to continue to grow until there are privacy regulations,” Beth Kindig, a technology analyst in San Francisco, told MarketWatch in an email message. “It’s still an all-or-nothing stock. Great financial and balance sheet in the middle of high-risk regulatory issues.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook shares jump after earnings beatFacebook shares rose in after-hours trading after the social media company reported quarterly results that exceeded analyst expectations.
Read more »
Asia stocks welcome trade talks, euro on defensiveAsian shares on Wednesday gave a guarded welcome to hints of progress in the Sin...
Read more »
Trade talks keep stocks afloat, weak PMIs sink euroGlobal shares crept higher on Wednesday as prospects of fresh China-U.S. trade t...
Read more »
Asia stocks stay judgment on trade talks, euro pressuredAsian shares crept higher on Wednesday as the prospect of fresh Sino-U.S. trade ...
Read more »
LeBron James Shares a Sneak Peek at 'Space Jam 2'Get your first look at the pro baller's jersey in the film.
Read more »
Leonardo DiCaprio Shares What He's Learned About Brad PittHow do we become a part of Leonardo DiCaprio and Brad Pitt's friendship?
Read more »