Facebook Slides By With Strong Bottom-Line Beat

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Facebook Inc. (NASDAQ: FB) reported its third-quarter financial results after the markets closed on Tuesday. The social media giant said that it had $1.76 in earnings per share (EPS) and $13.73 billion in revenue, compared with consensus estimates that called for $1.47 in EPS and $13.78 billion in revenue. The same period of last year reportedly had $1.59 in EPS and $10.33 billion in revenue.

During the latest quarter, daily active users were 1.49 billion on average for September 2018, an increase of 9% year over year, and monthly active users were 2.27 billion, an increase of 10%.

Mobile advertising revenue represented roughly 92% of advertising revenue, up from 88% in the third quarter of 2017.

Facebook did not offer any guidance in the release. However, the consensus estimates call for $2.17 in EPS and $16.34 billion in revenue for the current quarter.

Mark Zuckerberg, Facebook’s founder and CEO, commented:

Our community and business continue to grow quickly, and now more than 2 billion people use at least one of our services every day. We’re building the best services for private messaging and stories, and there are huge opportunities ahead in video and commerce as well.

Shares of Facebook closed Tuesday at $146.22, with a consensus analyst price target of $206.74 and a 52-week trading range of $139.03 to $218.62. Following the announcement, the stock was initially up about 2.5% at $150.00 in the after-hours session.