During Wednesday’s Morning trade, Shares of Facebook Inc (NASDAQ:FB), gained 0.58% to $103.14. The firm opened its current trade at $103.20. The total volume traded for the day is 245,060.00 shares, as compared to its average daily volume of 27.22M shares. The stock is floating in a range of $102.72 $103.41. The stocks hold the market capitalization of $290.64B.
According to news report, Facebook Inc (NASDAQ:FB), is planned to declare third-quarter financial results after the market closes Wednesday, according to WSJ
Analysts surveyed by Thomson Reuters expect the company to earn 52 cents a share in the third quarter on $4.367 billion in revenue. facebook reports earnings after Wednesdays closing bell.
Analysts, according to FactSet, expect earnings for the third quarter, ending Sept. 30, of $2.73 billion. Analysts expect profit for the third quarter, not taking into account certain expenses, of 52 cents per share, up from a profit of 43 cents in the same period last year, and revenue of $4.37 billion, up 36% from the same period a year earlier. For the full year, analysts expect revenue of $17.19 billion, earnings of $10.83 billion and earnings, not taking into account some items, of $2.07 per share. forbes
In the second quarter, Facebook had 968 million daily active users, with 1.5 billion monthly active users. More recently, CEO Mark Zuckerberg declared that daily active users surpassed 1 billion as more people continued to spend more and more time on the worlds largest social network.
Contrary to comments about Facebook losing its popularity, in particular among younger generations Facebook remains the leader of social media in the U.S, said Hannu Verkasalo, CEO of Verto Analytics, via email. In the last quarter, Facebook reached 95% of the online population, and it is the only service with a 100% reach among users of other top social media properties. No other service comes even close.
Advertising is the companys lifeblood, with much of it coming from mobile advertising. In the second quarter, 76% of the companys $3.827 billion advertising revenue was from mobile, showcasing the power of the companys platform, as initiatives like app-install ads, sponsored posts and others resonated with users and advertisers alike.
Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $112.73, according to 45 brokers. The higher price target for FB is $146.00, while the lower price target is $68.00.
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
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