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Facebook’s Second-Quarter Sales Top Estimates as Ads Rebound

  • Shares surge as advertising growth shows surprising strength
  • Monthly users soar as pandemic boosts need for social media
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Facebook 2Q Sales Top Estimates, Shares Surge
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Facebook Inc.’s second-quarter sales topped analysts’ highest estimates, rebounding from a pandemic-fueled disruption to digital advertising earlier in the year as its social media apps continued to draw more users.

Revenue rose 11% to $18.7 billion, compared with the $17.3 billion average analyst projection. Facebook’s main social network logged 2.7 billion monthly active users in the period, according to a statement Thursday, compared with the 2.63 billion average estimate of analysts polled by Bloomberg. Shares jumped about 6.5% in late trading.