Facebook Stock Rises 12% In After Hour Trading
January 28, 2016 at 4:44 AM (PT)
Tongues were wagging on WALL STREET last night as FACEBOOK shares were up 12% after the social network said it earned 79 cents a share on revenue of $5.84 billion in Q4. Those numbers were far ahead of estimates.
USA TODAY reports, "FACEBOOK topped $5 billion in quarterly revenue for the first time, up 52% from a year ago. It was also the first quarter in which FACEBOOK posted more than $1 billion in quarterly net income. FACEBOOK was expected to report earnings of 68 cents a share, excluding certain expenses, up from 54 cents a year ago, according to S&P CAPITAL IQ. Analysts expected revenue of $5.37 billion. FACEBOOK reported earnings after the close of the market."
"Clearly the (FACEBOOK) numbers are just stellar in terms of revenue growth, profitability, all the metrics that really matter," said PIVOTAL RESEARCH GROUP Analyst BRIAN WIESER to USA TODAY. "FACEBOOK's numbers affirm its co-dominance of the industry with GOOGLE. These paces of growth on such large bases of preexisting revenue just remind you what remarkable gains FACEBOOK continues to make in the industry."
Follow FACEBOOK's stock here.