The Holiday Gift Auction is Live! Click here and bid now on great local gifts!
State and Nation Business

Facebook 2Q profit more than doubles

MENLO PARK, Calif. – Facebook Inc. on Wednesday reported profit that more than doubled in its second quarter, and topped analysts’ expectations.

The Menlo Park, California-based company said earnings rose to $788 million, or 30 cents per share, from $331 million, or 13 cents per share, in the same quarter a year ago.

Earnings, adjusted for stock option expense, were 42 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The company said revenue climbed 61 percent to $2.91 billion from $1.81 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $2.8 billion, according to Zacks.

Facebook shares have climbed $16.64, or 30 percent, to $71.29 since the beginning of the year, while the Standard & Poor’s 500 index has climbed 7.5 percent. The stock has increased $44.78, or more than doubled, in the past 12 months.

Loading more

Digital Access

Digital Access
Access nwherald.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, weekend and Sunday packages.

Text Alerts

Text Alerts
Stay connected to us wherever you are! Get breaking news updates along with other area information sent to you as a text message to your wireless device.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Plan your weekend and catch up on the news with our newsletters.