Facebook: 3Q Earnings Snapshot
MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Thursday reported third-quarter net income of $7.85 billion.
The Menlo Park, California-based company said it had profit of $2.71 per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.
The social media company posted revenue of $21.47 billion in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $19.89 billion.
Facebook shares have risen 37% since the beginning of the year, while the Standard & Poor’s 500 index has risen 2.5%. In the final minutes of trading on Thursday, shares hit $281.63, a climb of 49% in the last 12 months.