Facebook's Q2 results demonstrate a surge in usage across its products but it warns engagement may not last after the pandemic; ad revenue grew despite boycott
Casey Newton / The Verge :
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Discussion
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@turnernovak
Turner Novak
on x
Facebook is now doing $190/yr in revenue per North American user https://twitter.com/...
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@reutersbiz
@reutersbiz
on x
Facebook shares jumped 4% in extended trading https://www.reuters.com/... and Amazon thrived on lockdown shopping https://www.reuters.com/... $FB $AMZN https://twitter.com/...
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@kurtwagner8
Kurt Wagner
on x
Facebook just reported earnings and they are good. Analysts expected FB revenue would grow only about 2.5% year-over-year given the coronavirus. It grew 10%. Revenue was ~$18.7 billion. Stock is up like 5.8% https://investor.fb.com/... https://twitter.com/...
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@lexnfx
Alexei Oreskovic
on x
FB's quarterly DAU/MAU chart never fails to make me chuckle. No matter what levers FB needs to pull, they'll never allow that ratio to dip below the 66% level. https://twitter.com/...
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@marketrebels
Market Rebellion
on x
$FB reports 11% revenue growth even amid pandemic slowdown, shares up 8% in after-hours trading https://www.cnbc.com/...
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@lorakolodny
Lora Kolodny
on x
“Facebook said it counts 3.14 billion monthly users across its family of apps, compared to 2.99 billion in the previous quarter.” Per yesterday's hearings... How many were sham accounts? https://www.cnbc.com/...
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@levynews
Ari Levy
on x
That ad boycott and antitrust hearing are creating a real overhan... oh https://www.cnbc.com/... https://twitter.com/...
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@rmac18
@rmac18
on x
Just crazy seeing the two different worlds between Facebook's business performance and its public relations, governmental, and internal problems. https://www.cnbc.com/...
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@dhh
@dhh
on x
The one-two punch here is quite something. These financial results only underscore and prove the points of the investigation. While overall GDP has been decimated, Big Tech is grabbing an ever-larger share of what's left. Consolidation of money and power on fast forward. https://…
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@karissabe
Karissa Bell
on x
Facebook on the effects of the ad boycott https://twitter.com/...
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@lexnfx
Alexei Oreskovic
on x
For context, Facebook revenue growth is typically in the 20%+ neighborhood.
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@tonyromm
Tony Romm
on x
stronger privacy regulation, historic antitrust scrutiny, an advertising boycott and a severe economic contraction caused by a pandemic and facebook still made that coin https://twitter.com/...
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@kurtwagner8
Kurt Wagner
on x
The bigger news IMO is this: FB says revenue in the first three weeks of July was also up 10%. That was with thousands of advertisers boycotting the platform. The boycott still looks terrible for Facebook, but doesn't appear to be doing much damage... https://twitter.com/...
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@loudmouthjulia
Julia Alexander
on x
Facebook and Amazon both posting ~massive~ earnings. Zuck and Bezos yesterday: “we could be squashed at any time pls. we are not that big.”
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@sarahfrier
Sarah Frier
on x
Revenue: $18.69B Users: 2.7B for FB monthly, 3.14B for all FB apps So far in 3Q they are seeing similar trends of about 10% rev growth, taking into account economic headwinds and “the impact from certain advertisers pausing spend on our platforms related to the current boycott.”