[Asia Economy Reporter Yujin Cho] The world's largest social media company, Facebook, posted second-quarter earnings that exceeded Wall Street expectations.
On the 28th (local time), Facebook announced its second-quarter earnings, reporting revenue of $29.077 billion (approximately 33.5548 trillion KRW), a 56% increase compared to the same period last year ($18.687 billion). This surpassed Wall Street estimates of $27.81 billion.
Net profit was $10.394 billion, a 101% increase from $5.178 billion in the same period last year. Earnings per share also reached $3.61, exceeding market estimates of $3.03.
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