Facebook reported monthly active users (MAUs) up 7.3% at 2.9 billion for the quarter ended in June. The figure was in line with expectations but reflected slowing growth, knocking shares down 4% in late trading.The social media giant said total revenue of $29.08 billion rose 56%.
Net profit jumped 101% to $10.39 billion, or $3.61 a share. Both figures repped a Wall Street beat on the wings of higher digital ad revenue that has marked tech sector earnings this week and last — but it was less pronounced at Facebook than at others like Twitter, Snap, Google and even Spotify.“We had a strong quarter as we continue to help businesses grow and people stay connected,” said CEO Mark Zuckerberg. “I’m excited to see our major initiatives around
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