Facebook beats 2nd quarter revenue expectations even as ad industry struggles

Mark Zuckerberg.
(Image credit: Graeme Jennings - Pool/Getty Images)

Pretty much every business suffered in 2020's second financial quarter. Well, except Facebook.

The COVID-19 pandemic had a devastating effect on the U.S. GDP, pushing it down 9.5 percent from the first quarter and 32.9 percent from the year before. But Facebook's revenue still grew 11 percent from Q1 to Q2, beating economists' expectations, the company revealed Thursday.

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Kathryn Krawczyk

Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.