Most Active Stories
- Fresno County Seeks to Eliminate Health Safety Net for the Undocumented
- Centennial Corridor Freeway Project Divides Bakersfield, Neighborhood
- Fresno Mayor Ashley Swearengin Announces State Controller Run
- Caltrans Picks Preferred Route For Centennial Corridor Freeway in Bakersfield
- In California, Researchers Uncertain If Drought Will Increase Valley Fever Risk
Valley Public Radio Staff
Tue October 23, 2012
After Bad Day For Market, Facebook's Revenue Rise Boosts Stock
Wall Street's bad day — the Dow Jones industrial average fell more than 240 points (1.8 percent) — has been followed by something unusual these days: good news about Facebook's shares.
The social media giant's stock is up about 10 percent in "after-hours" trading, to more than $21, because it just reported an increase in third-quarter revenue, to $1.3 billion from about $950 million in third-quarter 2011. The revenue was also about $300 million greater than analysts had been forecasting, Bloomberg News says.
What's more, as The Wall Street Journal notes, while the company "posted a loss of $59 million, or 2 cents a share," that was about $300 million better than expected.