On Wednesday, the 30th of October 2019, in the face of an unfathomable pressure brewed off Facebook Inc.’s planned Geneva-based crypto project Libra, the Menlo Park, CA-based social networking giant had reported its third consecutive quarterly sales growth, nonetheless, the company’s contemptuous policy on political ads had grabbed the limelight on a post-earnings’ call of Facebook CEO Zuckerberg.
According to the social networking titan’s Q3, 2019, earnings’ report that released on Wednesday (October 30th), Facebook Inc. had reported a 29 per cent upsurge of its net revenue from a figure of $17.65 a year earlier, beating an analysts’ estimate of $17.37 billion, IBES data from Refinitiv revealed.
Besides, the word’s No. 2 seller of online advertisements behind Alphabet Inc. owned Google LLC., had scored a $6.09 billion in operating profit during the third quarter of the year, beating a Wall Street estimate of $5.57 billion in profit or $1.91 per share, which in effect had torrented the share price of Facebook Inc.
more than 4 per cent in post-market trading to $196.50, which had been higher than its best-ever closing figure of $194.32 recorded on June 2018. Nonetheless, setting aside a fairly upbeat quarterly earnings’ report on Q3, 2019, Zuckerberg started off his post-earnings’ conference call by shielding the company’s policy on political ads containing false, misleading or mischievous claims saying Facebook did not want to pick sides on political speeches.