How Facebook Earnings Impressed Investors
Investors largely expected digital advertising to take a huge hit in the second quarter, dragging on digital advertising companies like Facebook (NASDAQ: FB). After all, many businesses suffered store closures and limited operations during the quarter, leading to reduced ad budgets. Even more, some businesses were likely impacted so badly that they paused their ad spending entirely.
But Facebook's slowdown in ad revenue growth wasn't nearly as bad as expected -- and that's at the crux of investors' positive response to the social network's earnings report this week. Shares are soaring on Friday, rising about 8% as of 10:45 a.m. EDT as the market applauds Facebook's double-digit ad revenue growth during a period in which many businesses suffered from lockdowns.
Here's a closer look at the results.
Source Fool.com
