AP NEWS

Facebook: 3Q Earnings Snapshot

October 30, 2019 GMT

MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported third-quarter net income of $6.09 billion.

On a per-share basis, the Menlo Park, California-based company said it had profit of $2.12.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.

The social media company posted revenue of $17.65 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $17.32 billion.

Facebook shares have climbed 44% since the beginning of the year, while the Standard & Poor’s 500 index has risen 22%. In the final minutes of trading on Wednesday, shares hit $188.91, an increase of 29% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FB