Why Facebook Stock Popped Today
Shares of Facebook (NASDAQ: FB) have popped today, up by 5% as of 12:20 p.m. EDT, after the social networking juggernaut reported first-quarter results. Facebook modestly beat revenue expectations and provided some encouraging commentary about the ad industry.
Revenue in the first quarter increased 18% to $17.74 billion, topping the consensus estimate of $17.25 billion. That led to net income of $4.9 billion, or $1.71 per share, which was right on target with expectations. Family daily active people (DAP) increased to 2.36 billion, while family monthly active people (MAP) grew to 2.99 billion.
Source Fool.com