Facebook Inc (FB) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.97 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 $0.82. The company posted revenue of $6436.00 million in the period, compared to analysts expectations of $6003.45 million. The company’s revenue was up 59.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Many Wall Street Analysts have commented on Facebook Inc. Facebook Inc was Downgraded by BTIG Research to ” Neutral” on Jul 22, 2016. Company shares were Reiterated by MKM Partners on May 13, 2016 to “Buy”, Firm has raised the Price Target to $ 150 from a previous price target of $135 .
Facebook Inc opened for trading at $127.52 and hit $128.33 on the upside on Thursday, eventually ending the session at $125, with a gain of 1.35% or 1.66 points. The heightened volatility saw the trading volume jump to 7,85,64,649 shares. Company has a market cap of $357,538 M.
In a different news, on Jul 19, 2016, David B. Fischer (VP Marketing & Bus. Part.) sold 7,821 shares at $117.43 per share price. According to the SEC, on Jul 19, 2016, Christopher K Cox (Chief Product Officer) sold 37,217 shares at $117.44 per share price. On Jul 19, 2016, Sheryl Sandberg (Chief Operating Officer) sold 148,104 shares at $118.09 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.