Ever since its earnings report last week, Facebook has been one of the hottest stocks on the market—and it makes sense. Once again, the social media giant proved its control of the industry with an impressive earnings beat, backed by solid mobile advertising growth.
For the second-quarter, Facebook posted earnings of 76 cents per share, beating our Zacks Consensus Estimate of $0.62. Mark Zuckerberg and Co. also saw revenues figures of $6.436 billion, smashing our estimate of $6.008 billion.
Facebook’s daily active user count in the month of June was 1.13 billion, and a majority of those users were accessing the site on mobile devices. Mobile advertising revenue represented 84% of total ad revenue in the quarter, up from 76% a year ago.
After Facebook blew away expectations yet again, analysts were left scrambling to adjust their estimates for the remainder of the year. Since the release of Facebook’s earnings report, the company has seen eight positive estimate revisions for its current-quarter, next-quarter, and full-year earnings.
The Zacks Consensus Estimate for Facebook’s current-quarter earnings currently sits at 76 cents per share, representing earnings growth of over 112% year-over-year. Less than 30 days ago, that estimate was eight cents lower at 68 cents per share.
In that same timeframe, the Zacks Consensus Estimate for Facebook’s next-quarter earnings gained nine cents, and the Zacks Consensus Estimate for the company’s full-year earnings gained 34 cents.
Analysts across the board are becoming even more bullish on Facebook stock, and that, along with its impressive performance so far this year, has earned the company a Zacks Rank #1 (Strong Buy). Facebook is currently the largest company on the Zacks Rank #1 (Strong Buy) list, and it is quickly proving itself as one of the best stocks in the world right now.
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Here's Why Facebook (FB) is a Zacks Rank #1 (Strong Buy) Stock
Ever since its earnings report last week, Facebook has been one of the hottest stocks on the market—and it makes sense. Once again, the social media giant proved its control of the industry with an impressive earnings beat, backed by solid mobile advertising growth.
For the second-quarter, Facebook posted earnings of 76 cents per share, beating our Zacks Consensus Estimate of $0.62. Mark Zuckerberg and Co. also saw revenues figures of $6.436 billion, smashing our estimate of $6.008 billion.
Facebook’s daily active user count in the month of June was 1.13 billion, and a majority of those users were accessing the site on mobile devices. Mobile advertising revenue represented 84% of total ad revenue in the quarter, up from 76% a year ago.
After Facebook blew away expectations yet again, analysts were left scrambling to adjust their estimates for the remainder of the year. Since the release of Facebook’s earnings report, the company has seen eight positive estimate revisions for its current-quarter, next-quarter, and full-year earnings.
The Zacks Consensus Estimate for Facebook’s current-quarter earnings currently sits at 76 cents per share, representing earnings growth of over 112% year-over-year. Less than 30 days ago, that estimate was eight cents lower at 68 cents per share.
In that same timeframe, the Zacks Consensus Estimate for Facebook’s next-quarter earnings gained nine cents, and the Zacks Consensus Estimate for the company’s full-year earnings gained 34 cents.
Analysts across the board are becoming even more bullish on Facebook stock, and that, along with its impressive performance so far this year, has earned the company a Zacks Rank #1 (Strong Buy). Facebook is currently the largest company on the Zacks Rank #1 (Strong Buy) list, and it is quickly proving itself as one of the best stocks in the world right now.
Curious about how other top stocks are performing? Check out the Zacks Friday Finish Line podcast:
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>