Facebook: 2Q Earnings Snapshot
MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported second-quarter earnings of $2.62 billion.
The Menlo Park, California-based company said it had profit of 91 cents per share. Earnings, adjusted for non-recurring costs, were $1.99 per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The social media company posted revenue of $16.89 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $16.45 billion.
Facebook shares have risen 56% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Wednesday, shares hit $204.55, a drop of roughly 5% in the last 12 months.