Facebook Stock Up Over 20% Post-Earnings Report
It looks like Facebook investors liked what they saw out of Tuesday evening’s Q3 earnings report. As of right now, Facebook stock sits at just under $24 a share, which is up over 4.2 points from close yesterday.
For the lazy, that’s an over 21% increase.
Facebook posted their Q3 earnings yesterday after close, and their $1.26 billion in revenues beat analysts’ expectations. In his earnings calls, CEO Mark Zuckerberg emphasized that the company is “just getting started” when it comes to monetizing mobile, and that many people have misunderstood Facebook’s mobile potential. Of course, one of the main issues making investors skittish on Facebook is their troubles monetizing their mobile product – which is obviously what users are trending toward.
Facebook reported that revenue from advertising was $1.09 billion, which is up 32% year-over-year. 14% of that ad revenue came from mobile. Facebook posted a net loss of $59 million.
But on the heels of that report, here’s the current state of Facebook stock:
The last time Facebook stock saw a big jump was in early September when comments made by Zuckerberg reassured investors, and the price jumped as much as 7.7%. Facebook’s possible venture into search was one of the things that tickled Wall Street’s fancy.
In late August, the price took an epic dive to sub-$18. The 52-week low for the company is $17.55. As you remember, Facebook shares debuted at $38 back in May.