Facebook Jumps After Q3 Earnings Results
Facebook (NASDAQ: FB) released its fiscal third-quarter earnings results after the closing bell on Tuesday. Despite reporting a loss, the stock has jumped in the after hours. At last check, Facebook was up nearly 10 percent to $21.40.
The company reported a net loss of $59 million or $0.02 per share, compared to net income of $150 million or $0.10 per share, in the year ago period.
On an adjusted basis, which is comparable to analyst's consensus, Facebook reported net income of $311 million or $0.12 per share, compared to $273 million or $0.12 per share, in the year ago quarter. That beat Wall Street consensus EPS estimates by a penny.
Revenue in the period rose 32 percent to $1.26 billion from $954 million last year. Analysts expected revenue of $1.23 billion.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.