4 ETFs To Ride On Facebook's Spectacular Results
Zacks Investment Research | Jul 28, 2016 12:40AM ET
Social media behemoth, Facebook (NASDAQ:FB) delivered impressive results yet again for the second quarter of 2016 buoyed by the strength in mobile advertising business. The company surpassed our estimates on both the top and the bottom line. This sent Facebook shares up in aftermarket hours. In pre-market trading, the stock hit a record high of $128.35 at the time of writing.
Facebook Q2 Results in Detail
Adjusted earnings per share (accounting for stock-based compensation) came in at 76 cents, crushing the Zacks Consensus Estimate by 62 cents. Revenues soared 59% year over year to $6.4 billion and edged past our estimate of $6 billion. Growing advertising revenues were the primary reason for the superlative performance.
Advertising revenues grew 63% year over year to $6.2 billion. Notably, mobile advertising revenues accounted for 84% of total advertising revenues, up from 82% in the preceding quarter and 76% in the year-ago quarter (see: Zacks Investment Research
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