Investing.com - Facebook (NASDAQ:FB) reported third quarter earnings that beat analysts' expectations on Wednesday and revenue that topped forecasts.
The firm reported earnings per share of $2.12 on revenue of $17.65B. Analysts polled by Investing.com anticipated EPS of $1.9 on revenue of $17.36B. That compared to EPS of $1.76 on revenue of $13.73B in the same period a year earlier. The company had reported EPS of $0.91 on revenue of $16.89B in the previous quarter.
Facebook shares gained 2.89% to trade at $193.63 in after-hours trade following the report.
Facebook shares gained 2.89% to trade at $193.63 in after-hours trade following the report.
For the year, Facebook shares are up 43.56%, outperforming the Nasdaq 100 which is up 30.4% year to date.
Facebook follows other major Technology sector earnings this month
On Wednesday, October 23, 2019, Microsoft reported first quarter EPS of $1.38 on revenue of $33.06B, compared to forecasts of EPS of $1.25 on revenue of $32.15B.
Alphabet C earnings missed analyst's expectations on Monday, with third quarter EPS of $10.12 on revenue of $40.5B. Investing.com analysts expected EPS of $12.28 on revenue of $40.3B
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