Facebook Inc (FB) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.77 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.15. Analysts had a consensus of $0.62. The company posted revenue of $5380.00 million in the period, compared to analysts expectations of $5262.63 million. The company’s revenue was up 51.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Many Wall Street Analysts have commented on Facebook Inc. Company shares were Reiterated by Raymond James on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 137 from a previous price target of $125 .Company shares were Reiterated by Needham on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $115 .Company shares were Reiterated by Axiom Capital on Apr 4, 2016 to “Buy”, Firm has raised the Price Target to $ 150 from a previous price target of $145 .
Facebook Inc closed down -2.88 points or -2.54% at $110.56 with 3,84,58,201 shares getting traded on Friday. Post opening the session at $111.21, the shares hit an intraday low of $109.01 and an intraday high of $111.75 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 20, 2016, Colin Stretch (VP and General Counsel) sold 1,000 shares at $111.10 per share price. According to the SEC, on Apr 20, 2016, Jan Koum (director) sold 1,434,530 shares at $110.16 per share price. On Apr 19, 2016, David B. Fischer (VP Marketing & Bus. Part.) sold 7,821 shares at $110.26 per share price, according to the Form-4 filing with the securities and exchange commission.
Facebook Inc. is a social networking company. The Company is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It offers various services focused on people marketers and developers. It offers various platforms for people to share their opinions ideas photos and videos and to engage in other activities. Its products include Facebook Instagram Messenger and WhatsApp. The Facebook mobile app and Website enables people to connect share discover and communicate with each other on mobile devices and personal computers. Its Messenger is a mobile-to-mobile messaging application available on iOS and Android phones. Instagram is a mobile application and Website that enables people to take photos or videos and share them with friends and followers. WhatsApp Messenger is a cross-platform mobile messaging application and allows people to exchange messages on iOS Android BlackBerry Windows Phone and Nokia devices.