(Reuters) – Facebook Inc beat Wall Street estimates for quarterly revenue on Wednesday, bolstered by increased advertising spending as businesses build their digital presence to cater to consumers spending more time and money online.
The company’s total revenue, which primarily consists of ad sales, rose to $29.08 billion in the second quarter from $18.69 billion a year earlier, beating analysts’ estimates of $27.89 billion, according to IBES data from Refinitiv.
(Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)
