Facebook Q2 Profit, Revenues Beat Street View; Shares Up 7%

Facebook Inc. (FB) Thursday reported a second-quarter profit that surged from a year ago, driven largely by growth in revenues. Earnings for the quarter trumped Wall Street estimates, while revenues also beat expectations. Shares of the social media giant gained nearly 7% in the after-hours session.

Menlo Park, California-based Facebook’s second-quarter profit nearly doubled to $5.18 billion or $1.80 per share from $2.62 billion or $0.91 per share last year. On average, 41 analysts polled by Thomson Reuters estimated earnings of $1.39 per share for the quarter.

Last year’s second-quarter results included an additional $2.0 billion legal expense related to the company’s settlement with the U.S. Federal Trade Commission and a $1.1 billion income tax expense due to the Altera Ninth Circuit Opinion.

Revenues for the quarter jumped 11 percent to $18.69 billion from $16.89 billion last year. Analysts had a consensus revenue estimate of $17.40 billion for the quarter.

Daily active users were up 12 percent to 1.79 billion on average for June, while monthly active users increased 12 percent to 2.70 billion. Total advertising revenues rose 10 percent to $18.32 billion.

Facebook said its business has been impacted by the COVID-19 pandemic and, like all companies, it is facing a period of unprecedented uncertainty in business outlook.

FB closed Thursday’s trading at $234.50, up $1.21 or 0.52%, on the Nasdaq. The stock further gained $16.10 or 6.87% in the after-hours trading.

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TFS FINANCIAL CORP. Q3 Profit Advances

TFS FINANCIAL CORP. (TFSL) released earnings for its third quarter that increased from the same period last year.

The company’s earnings totaled $26.84 million, or $0.10 per share. This compares with $18.26 million, or $0.06 per share, in last year’s third quarter.

Analysts had expected the company to earn $0.05 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

TFS FINANCIAL CORP. earnings at a glance:

-Earnings (Q3): $26.84 Mln. vs. $18.26 Mln. last year.
-EPS (Q3): $0.10 vs. $0.06 last year.
-Analysts Estimate: $0.05

Woman stabbed to death in Thornton restaurant parking lot.

A man and a woman were stabbed Thursday in a restaurant parking lot and the woman has died, police said.

The stabbing happened outside a Chili’s, 16507 Washington St., police said. The male victim has been taken to a local hospital. A suspect, a man, is in custody.

An investigation is ongoing and police said there’s no continuing threat to the public.

— Thornton Police Dept (@ThorntonPolice) July 30, 2020

This story will be updated.

CAA Signs Black Lives Matter Canada Co-Founder Janaya Future Khan

EXCLUSIVE: CAA has signed storyteller, activist, futurist and Black Lives Matter Canada co-founder Janaya Future Khan for representation in all areas.

Known as Future within the BLM movement, they have become a leading voice in the global crusade demanding social transformation, justice, and equality in a time when the world is at a critical moment in history when it comes to the Black community.

Through their dedication and bold approach to social justice, Khan’s work has created opportunities to contribute to academic and frontline community dialogue, engaging audiences on the global impacts of the Black Lives Matter movement.

Khan is an accomplished lecturer and author, with work appearing in The Feminist Wire, Vogue, The Huffington Post and Al Jazeera. They currently serve as the International Ambassador for the Black Lives Matter Network and most recently was a Campaign Director at Color Of Change, the nation’s largest online racial justice organization.

In addition, Khan has been using their Instagram as a platform to give a weekly “Sunday Sermon,” discussing issues Black people are facing today and covering topics including belonging, fear, finding your voice and building cross-cultural connections to better understand each other.

Khan is managed by Jamil Shamasdin and Camylle Dooley at JAM Inc. They are also repped by ID PR. CAA also reps Black Lives Matter Global Network Co-Founder Patrisse Cullors.

Dril-Quip Inc. Q2 adjusted earnings Miss Estimates

Below are the earnings highlights for Dril-Quip Inc. (DRQ):

-Earnings: -$14.14 million in Q2 vs. $1.68 million in the same period last year.
-EPS: -$0.40 in Q2 vs. $0.05 in the same period last year.
-Excluding items, Dril-Quip Inc. reported adjusted earnings of -$12.31 million or -$0.34 per share for the period.
-Analysts projected -$0.06 per share
-Revenue: $90.45 million in Q2 vs. $103.81 million in the same period last year.