Facebook beats Wall Street Q2 forecasts, reports $6.44B revenue


MENLO PARK, Calif. — Facebook Inc. (FB) on Wednesday reported second-quarter net income of $2.05 billion.
On a per-share basis, the Menlo Park, California-based company said it had profit of 71 cents.
Earnings, adjusted for stock option expense and amortization costs, were 97 cents per share.
The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The social media company posted revenue of $6.44 billion in the period, which also beat Street forecasts.
Eleven analysts surveyed by Zacks expected $6.01 billion.
Facebook shares have increased 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent.
In the final minutes of trading on Wednesday, shares hit $123.13, a rise of 31 percent in the last 12 months.

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