Facebook: 2Q Earnings Snapshot
MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Thursday reported second-quarter net income of $5.18 billion.
On a per-share basis, the Menlo Park, California-based company said it had profit of $1.80.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The social media company posted revenue of $18.69 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $17.29 billion.
Facebook shares have risen 14% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $234.50, an increase of 19% in the last 12 months.