Facebook: 3Q Earnings Snapshot
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.
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.