“Shares in social media giant Facebook (FB) soared 6.5% in Thursday’s after-hours trading after the company reported better-than-hoped earning results for the second quarter.
Specifically, Q2 GAAP EPS of $1.80 beat Street estimates by $0.40 while revenue of $18.69B also topped Street expectations by $1.33B, and was up 10.7% from the same period last year. Ad revenue was also up 10% at $18.32B (vs. consensus of $16.95B)- and Facebook expects a similar strong rate of growth for the third quarter.
Meanwhile daily active users (DAU) surged to 1.79B vs. the consensus of 1.75B- and similarly monthly active users (MAU) of 2.70B easily beat the consensus of 2.63B. That’s with average revenue per user (ARPU) at $7.05, again higher than the expected forecast of $6.63.
Also of note, operating income spiked 29% to $5.96B (31.9% margin), with net income almost doubling to $5.18B thanks to a significantly lower effective tax rate.
Looking forward, FB trimmed its 2020 Opex outlook by $1B at the high end to $52–55B but said its 2020 Capex would be around $16B ($14–16B prior).”
FB stock closed at 228.58+4.15 (+1.85%) on Friday June 12,2 2020. For the week ending on June 12, 202o FB stock had a performance of -0.95%. Shares of Facebook, Inc. (NASDAQ:FB) have a 52-week range of 137.10 – 241.21. Facebook stock has a Beta of 1.05, and a PE Ratio of 31.32. Facebook has a market capitalization of $651.25 Billion as of June 12, 2020.
Facebook, Inc. (FB) stock price performance for the week ending on June 5, 2020
FB stock price performance for the week ending on June 5, 2020, was -0.49%. FB stock price at the close on June 5, 2020, was 230.77+4.48 (+1.98%). The stock has a 52-week range of 137.10 – 240.90 and a P/E ratio of 31.62. FB stock has a YTD performance of +12.43%. Shares of Facebook Inc. (NASDAQ:FB) have a beta of 1.06, and the company has a market cap of 657.487B.
Stock market data: MarketWatch
FB stock chart
Stock market source: Stockscharts, daily chart for Facebook Inc. (FB) stock as of June 5, 2020
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