Mark Zuckerberg, chief executive officer and founder of Facebook Inc., arrives for a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, Oct. 23, 2019.
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Facebook's better-than-expected second quarter proved the resilience of its advertiser model in the face of an economic crisis and an advertiser boycott, according to Wall Street analysts who praised the company's performance.
The social media giant reported $1.80 in earnings per share on $18.7 billion of revenue for its June quarter. Analysts surveyed by Refinitiv were looking for earnings of $1.39 per share and $17.4 billion of revenue. Facebook's user metrics also beat expectations.
Shares jumped 8.2% on Friday, bringing the share price above $250.