The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

NEW YORK CITY, New York (AFP) – Shares of social networking giant Facebook vaulted more than 25 percent in early trading Thursday following a surprisingly good earnings report.

Facebook shares were up 26.0 percent to $33.39 at 1354 GMT, the highest level since May 2012. The surge came after the company’s earnings report showed large increases in ad revenue from mobile technology.

Facebook shares have not appreciably moved higher since the company’s high-profile public offering in May 2012.

But the company has made a priority of following its more than one billion members onto smartphones or tablets as lifestyles increasingly revolve around accessing the Internet from mobile devices.

Facebook reported net income in the second quarter of $331 million compared with a loss of $157 million in the year-ago period.

Revenue for the quarter that ended June 30 climbed to $1.81 billion, up 53 percent from the same period a year earlier.

Facebook said 41 percent of its ad revenues came from mobile, compared with 30 percent in the prior quarter and virtually nothing a year ago.

“We’ve made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile,” said Facebook chief executive and Mark Zuckerberg.

Photo Credit: AFP/Nicholas Kamm

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

David Perdue
David Perdue

With most conservative candidates in primary races across the country pledging allegiance to former President Trump and disseminating his Big Lie, what is a Republican candidate to do to get ahead? Why, just accuse their Republican opponent of having ties to China, of course!

Spurious, misleading, and even exaggerated accusations of connections with China are a source of anxiety for Republicans in the 2022 races, while campaign strategists and candidates have labeled such allegations a “prime attack in a Republican primary,” according to the Washington Post.

Keep reading... Show less

John Eastman

Former Trump attorney John Eastman used his University of Colorado email account to collude with a Republican lawmaker in Pennsylvania to formulate a pretext to seat Trump electors in a state Joe Biden won by nearly 82,000 votes. It was a last ditch-bid to overturn the 2020 presidential election, new emails obtained by the House Select Committee show.

Eastman devised a sinister idea to label tens of thousands of absentee ballots illegitimate, thus giving then-President Trump the state’s popular vote lead. This method, Eastman proposed, “would help provide some cover,” beneath which Republicans could swap Biden’s electors with sham electors for Trump who would subvert the 2020 elections.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}