Facebook stock surged to a new high in after hours trading after the company beat earnings estimates for the third quarter.
Facebook reported earnings of $0.25 per share on revenue of $2.02 billion, coming in well ahead of Wall Street estimates for earnings of $0.19 per share on revenue of $1.91 billion. Facebook revenue for the quarter was up 60% from the $1.2 billion it earned a year earlier, thanks in part to continued growth in mobile ads
Mobile ads now account for 49% of Facebook's total ad revenue — or just under $900 million — up from 41% in the previous quarter and 30% in the first quarter, meaning Facebook is very close to being a truly mobile-first company. Read more...
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