Impressive Q2 Earnings Report Boosts Facebook Shares More Than 3% Higher
Shares of Facebook Inc. jumped more than 3 percent in Wednesday’s after-hours session after the tech giant published its second-quarter earnings results that beat Wall Street expectations.
Facebook shares added 3.32 percent to trade around $171.10 per share after the social networking service based in Menlo Park, California reported net income of $3.89 billion, or $1.32 per share. The readings did not only top earnings of $2.28 billion, or 78 cents per share, in the year-earlier period but also beat consensus calling for earnings per share of $1.12.
Total revenue was reported to reach $9.3 billion, up from $6.4 billion in the year-earlier period and well above forecast for a rise to $9.2 billion. Facebook said the number of daily active users jumped 17% year-over-year to reach 1.32 billion, in line with forecast. Monthly active users also grew at rate of 17% on a yearly basis, to 2.01 billion.
Buy Stop at 171.20, Take profit at 173.00, Stop loss at 170.00