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Why Analysts Are Cautiously Optimistic on Facebook After Earnings
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Facebook Inc. (NASDAQ: FB) released its third-quarter 2019 earnings results after markets closed Wednesday. Overall, this was a fairly positive report, with solid top-line and bottom-line beats, and investors reacted in kind, sending shares higher. On the analyst front, most were positive, but there were a few that are still not entirely convinced.
24/7 Wall St. has included some brief highlights from the earnings report, as well as what analysts said after the fact.
For the quarter, the social media company posted diluted earnings per share (EPS) of $2.12 on revenues of $17.65 billion. In the same period a year ago, the company reported EPS of $1.76 on revenues of $13.73 billion. Third-quarter results also compare to consensus estimates for EPS of $1.91 EPS and $17.37 billion in revenues.
The number of daily active users rose 9% year over year to 1.62 billion in September, and the monthly active user total rose 8% to 2.45 billion.
Mobile advertising revenue represented approximately 94% of advertising revenue for the quarter, up from about 92% of advertising revenue in the year-ago third quarter.
Here’s what analysts had to say:
Shares of Facebook traded up about 3% on Thursday to $194.00, in a 52-week range of $123.02 to $208.66. The consensus price target is $236.49.
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