Facebook Crushes Earnings
Posted: Wed Jul 23, 2014 4:44 pm
And The Stock Soars
To An All-Time High
Jim Edwards
BusinessInsider.com
Facebook reported its Q2 2014 earnings, blowing away expectations on the top and bottom lines. Revenue went up 61% to nearly $3 billion and earnings per share were $0.42 — 12 cents more than analysts predicted.
Facebook's gross margins increased dramatically. In essence, the company makes way more in sales this year than it used to, but its cost-base for generating those sales increased only modestly. Income from operations was a staggering $1.4 billion — this time last year it was just $562 million.
The stock went up and flirted with $74, a rise of 4%, after the market closed, hitting an all time high.
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