Investing.com - Facebook (NASDAQ:FB) reported second quarter earnings that beat analysts' expectations on Wednesday and revenue that topped forecasts.
The firm reported earnings per share of $1.99 on revenue of $16.89B. Analysts polled by Investing.com forecast EPS of $1.87 on revenue of $16.5B. That compared to EPS of $1.74 on revenue of $13.23B in the same period a year earlier. The company had reported EPS of $0.85 on revenue of $15.08B in the previous quarter.
Facebook shares gained 4.52% to trade at $214.24 in after-hours trade following the report.
Facebook shares gained 4.52% to trade at $214.24 in after-hours trade following the report.
For the year, Facebook shares are up 56.37%, outperforming the Nasdaq 100 which is up 29.23% year to date.
Facebook follows other major Technology sector earnings this month
On Thursday, July 18, 2019, Microsoft reported fourth quarter EPS of $1.37 on revenue of $33.72B, compared to forecasts of EPS of $1.21 on revenue of $32.77B.
Taiwan Semiconductor earnings matched analyst's expectations on Thursday, July 18, 2019, with second quarter EPS of $0.41 on revenue of $7.76B. Investing.com analysts expected EPS of $0.41 on revenue of $7.62B
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