A day after the congressional grilling, Facebook (NASDAQ: FB) reported second-quarter financial results after the closing bell on Thursday. The social media giant posted revenue and earnings that were stronger than what the street had anticipated.
FB shares gained 7.7% immediately following the announcement. The stock has gained a modest 11% since the beginning of this year.
On Wednesday, Facebook chief Mark Zuckerberg, along with the CEOs of peers Apple (NASDAQ: AAPL), Alphabet (NASDAQ: GOOGL) and Amazon (NASDAQ: AMZN) presented themselves before the congress to testify in an antitrust hearing. During the hearing, Zuckerberg was faced with some difficult questions relating to its ad revenues, acquisition strategy and strategies to combat hate speech and political propaganda.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,