Is Facebook just too good?
The social networking giant blew past Wall Street expectations of both revenue and earnings per share for its second-quarter of 2016 earnings released Wednesday. Facebook’s stock was up by more than 6 percent in after-hours trading.
Facebook reported $6.44 billion in revenue, up 63 percent year over year, compared to $6 billion as analysts expected. Earnings per share, excluding certain expenses, reached 71 cents compared to 57 cents expected.
Not only did it crush revenues, Facebook pulled even more people into the world’s largest social network. Facebook now claims more than 1.71 billion monthly active users, up from 1.65 billion last quarter. On a daily basis, Facebook is visited by 1.13 billion users.