Facebook (FB) announced third quarter earnings of $1.59 a share today after the market closed. That was 31 cents a share better than the Wall Street consensus. Revenue climbed 47.3% year over year to $10.33 billion, ahead of projections for $9.84 billion. Last quarter Facebook reported earnings of $1.32 per share and an earnings beat of 20 cents a share. Revenue in the second quarter climbed 44.8%.
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Advertising revenue climbed 49%to $10.1 billion. Mobile advertising represented 88% of total ad revenue for the quarter. In the third quarter of 2016, mobil ad revenue accounted for 84% of total ad revenue.
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Wall Street cheered a 16% year over year increase in daily active users to 1.37 billion on average in September 2017. And in monthly active users to 2.07 million in September, an increase of 16% year over year.
Shares were up 1.44% before the close (and before the report) to $182.66 and than gained another 1.01% to $184.50 in after-hours trading. Facebook is a member of my long-term 50 Stocks portfolio.
The stock has now decisively broken above the four-month range near $175 a share. $182 a share had been the all-time high.
Full disclosure: I own shares of Facebook in my personal accounts.
