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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 This material may not be published, broadcast, rewritten or redistributed.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 75 255 11,693
MORTGAGES 72 295 15,274
FORECLOSURE NOTICES 0 68 2,979
BUILDING PERMITS 0 392 27,646
BANKRUPTCIES 57 275 11,237
BUSINESS LICENSES 35 98 4,136
UTILITY CONNECTIONS 0 422 16,906
MARRIAGE LICENSES 0 62 3,526

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