On the same day that Facebook announced that the Federal Trade Commission (FTC) had fined it $5 billion, the social media company reported better than expected earnings for the second quarter. For the three month period running from April through June, Facebook generated $16.9 billion in revenue. That was not only a 28% gain from the $13.2 billion it grossed during the same quarter last year, it topped Wall Street estimates of $16.5 billion. Net income was $2.6 billion or 91 cents a share. This figure was down 49% from the $5.1 billion or $1.74 a share it reported during the 2018 quarter. ...
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