Business Maverick: Facebook Tops Revenue Estimates; FTC Opens Antitrust Probe

Jul 24, 2019, 10:16 PM – Updated on Jul 25, 2019, 2:56 AMFacebook Inc. showed that its business can weather all kinds of regulatory scrutiny — as long as people keep flocking to Facebook.

“If that doesn’t get put in place, then frustration with the industry will continue to grow,” he said on a conference call. Menlo Park, California-based Facebook said second-quarter sales rose 28% to $16.9 billion, compared with an average analyst projection of $16.5 billion. In a statement Wednesday, the company said 1.59 billion people log into the main social-media service daily, compared with the 1.57 billion users projected in a Bloomberg survey.

While the company’s growth hasn’t been throttled by regulatory changes or privacy restrictions yet, it’s possible new rules could slow future gains. The company said it expects revenue growth to decelerate, especially in the fourth quarter and into 2020.

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