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Facebook Earnings: FB Stock Bumps 2% Higher on Q3 Earnings Beat

Facebook beat EPS and revenue estimates for the quarter

Facebook (NASDAQ:FB) earnings for the third quarter of 2019 have FB stock up in after-hours trading on Wednesday. This comes from the company’s diluted earnings per share of $2.12. That blows past Wall Street’s estimate of $1.91 for the quarter. Revenue of $17.65 billion also handily beats analysts’ estimates of $17.37 billion for the period.

Facebook Earnings: FB Stock Bumps 2% Higher on Q3 Earnings Beat
Source: Chinnapong / Shutterstock.com

Let’s look at some other highlights from the Facebook earnings report for Q3 2019.

  • Diluted EPS for the quarter is up 20.46% from $1.74 in the third quarter of 2018.
  • Revenue comes in 28.55% higher YoY than $13.73 billion.
  • Income from operations for the period are sitting at $7.19 billion.
  • That’s a 24.40% increase over the company’s operating income of $5.78 billion from the same time last year.
  • The Facebook earnings report also includes a net income of $6.09 billion.
  • This is 18.48% higher than its net income of $5.14 billion in the third quarter of the previous year.
  • Monthly active users increased by 8% during the quarter to 2.45 billion.

Mark Zuckerberg, founder and CEO of Facebook, says this about the most recent FB stock earnings.

“We had a good quarter and our community and business continue to grow. We are focused on making progress on major social issues and building new experiences that improve
people’s lives around the world.”

The Facebook earnings report for the third quarter of 2019 doesn’t include details about its 2019 outlook. However, we do know that Wall Street is looking for diluted per-share earnings of $6.28 on revenue of $70.24 billion for the year.

FB stock was up 2.60% in after-hours trading on Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

 


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/facebook-earnings-boost-fb-stock/.

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