Facebook pointed out that CEO Mark Zuckerberg is expected to testify before the House Judiciary Committee on Wednesday, possibly the main reason for the delay. This hearing itself has been moved after it was originally scheduled for Monday, July 27.
The hearing, conducted by the antitrust subcommittee, will see Zuckerberg and other Big Tech CEOs answer questions from lawmakers regarding market dominance and alleged anti-competitive behavior. This is part of an investigation into these issues that the subcommittee launched in June 2019.
In announcing its investigation, the subcommittee wrote that “ [a] a small number of dominant unregulated platforms have extraordinary power over online commerce, communication and information. “Apart from Facebook, these platforms include Amazon.com, Apple, and Alphabet. Like Zuckerberg, the three CEOs of these companies should also testify.
As for second-quarter results, analysts following the stock are forecasting on average revenue of around $ 17.40 billion and net earnings per share of $ 1.39, according to compiled data. by Yahoo! Finance. The figures from a year ago for these two items were $ 16.89 billion and $ 0.91.
Investors don’t seem embarrassed to have to wait a little longer to see Facebook’s final quarters. Shares of the company rose 1.2% on the day, easily beating gains in the broader stock market.