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VOL. 128 | NO. 213 | Thursday, October 31, 2013

Facebook Third-Quarter Results Fly Past Expectations

AP

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NEW YORK (AP) – Facebook's stock is soaring after the company reported a 60 percent revenue increase in the third quarter, surpassing Wall Street's expectations.

The world's largest social network said Wednesday that it earned $425 million, or 17 cents per share. That's up from a loss of $59 million, or 2 cents per share, in the same period a year ago.

The company's stock jumped $6.14, or 12.5 percent, to $55.15 in after-hours trading.

Adjusted earnings were $621 million, or 25 cents per share. That's 6 cents better than analysts expected.

Revenue grew 60 percent to $2.02 billion from $1.26 billion.

Analysts, on average, had expected revenue of $1.91 billion, according to FactSet.

Facebook's advertising revenue was $1.8 billion, up 66 percent from a year ago.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 215 4,981
MORTGAGES 96 322 6,548
FORECLOSURE NOTICES 13 38 1,517
BUILDING PERMITS 223 541 11,800
BANKRUPTCIES 84 203 5,162
BUSINESS LICENSES 19 65 2,001
UTILITY CONNECTIONS 124 351 6,815
MARRIAGE LICENSES 21 65 1,406

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