Facebook spent Wednesday getting hammered by congress, and Thursday blowing its financial earnings out of the water.https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/facebook-nearly-doubles-its-profit-but-warns-of-fallout-from-ad-boycotts …
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Replying to @MikeIsaac
I see that ad boycott everyone was writing about really stung
2 replies 0 retweets 9 likes -
Replying to @Pinboard
to be fair they note that the boycott will show up in july quarter, not in time for Q2 (this one)
1 reply 0 retweets 6 likes -
Replying to @MikeIsaac
Ah, I see. Well, at least they have time to lay in some extra coffee and prepay the wifi bill before the lean times hit
1 reply 0 retweets 3 likes -
Replying to @Pinboard
though to your point their financial guidance says they expect earns next quarter to be flat-ish rather than going down. so theyll still make the 18b analysts expect MZ was right, they all tend to return.
1 reply 0 retweets 7 likes
Yeah, where else are they going to go? Also Facebook is making money by the metric shitload from political ads already and that will only intensify over the summer. Including from every politician who pledges not to take their money (but will pay them instead)
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