Facebook Earnings: Here’s Why Shares are Falling
Facebook, Inc. (NASDAQ:FB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Despite the strong numbers, shares are down 1.86%.
Facebook, Inc. Earnings Cheat Sheet
Results: Net income dipped to $64 million (3 cents per diluted share) in the quarter versus a net gain of $205 million in the year-earlier quarter.
Revenue: Rose 40.14% to $1.59 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Facebook, Inc. reported adjusted net income of 17 cents per share. By that measure, the company beat the mean analyst estimate of $0.15. It beat the average revenue estimate of $1.53 billion.
Quoting Management: “In 2012, we connected over a billion people and became a mobile company,” said Mark Zuckerberg, Facebook founder and CEO…