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Facebook: 3Q Earnings Snapshot

October 30, 2018 GMT

MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Tuesday reported third-quarter net income of $5.14 billion.

The Menlo Park, California-based company said it had net income of $1.76 per share.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.

The social media company posted revenue of $13.73 billion in the period, which did not meet Street forecasts. Fourteen analysts surveyed by Zacks expected $13.81 billion.

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Facebook shares have decreased 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Tuesday, shares hit $146.11, a decrease of 18 percent 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