Social network's shares surged 16% following fourth quarter results that topped Wall Street forecasts. Ref. USAToday
Facebook to snap up virtual-reality start-up Oculus for $2 billion
Social media giant continues its billion-dollar buying binge, with CEO Mark Zuckerberg saying Oculus' technology "Opens up the possibility of completely new kinds of experiences." Ref. USAToday
Facebook exceeds analyst estimates for ninth straight quarter
The giant social network scorched analyst estimates on Wednesday, marking the ninth straight quarter exceeded expectations. Shares rose nearly 3% in after-hours trading. Facebook reported second-quarter revenue of $2.91 billion, an increase of 61%. Mobile advertising represented 62% of advertising revenue. Earnings per share, excluding certain items, were 42 cents, up 121%. Wall Street had expected good numbers: Revenue of $2.8 billion, 55% higher than a year ago. Earnings per share, excluding certain items, were expected to be 32 cents, up 68%. Ref. USAToday
Facebook shares soar after quarterly results top estimates
Facebook shares shot up in after-hours trading after the giant social network said it earned 79 cents a share on revenue of $5.84 billion in the fourth quarter. Ref. USAToday.