Market News
Facebook quarterly revenue beats estimates
(Reuters) - Facebook Inc (FB.O) beat analysts’ estimates for quarterly revenue on Thursday, as more businesses used its digital advertising tools to tap a surge in online traffic during the coronavirus pandemic.
Total revenue rose to $18.69 billion from $16.89 billion in the second quarter ended June 30, beating analysts’ estimate of $17.40 billion, according to IBES data from Refinitiv.
Reporting by Katie Paul in San Fransisco and Subrat Patnaik in Bengaluru; Editing by Maju Samuel
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