Investing.com - Facebook (NASDAQ:FB) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Facebook announced earnings per share of $1.4 on revenue of $17.28B. Analysts polled by Investing.com anticipated EPS of $1.39 on revenue of $17.33B.
Facebook shares are down 58.29% from the beginning of the year and are trading at $229.48 , down-from-52-week-high.They are under-performing the STOXX 600 which is down 14.2% from the start of the year.
Facebook follows other major Technology sector earnings this month
Facebook's report follows an earnings beat by Microsoft on Wednesday, July 22, 2020, who reported EPS of $1.46 on revenue of $38.03B, compared to forecasts EPS of $1.34 on revenue of $36.54B.
Taiwan Semiconductor had beat expectations on Wednesday, July 15, 2020 with second quarter EPS of $0.79 on revenue of $10.55B, compared to forecast for EPS of $0.72 on revenue of $10.38B.
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