A strong quarter from the world's largest social networking giant was expected, and Facebook Inc. (Nasdaq: FB) delivered. Profit, revenue, and user count numbers were all solidly higher.
After finishing Wednesday's regular session up 2.92% at $71.29, FB stock rose another 3.80% to $74.04 afterhours, sailing past FB's all-time high watermark of $72.59.
"They have really done a very good job in bridging data gap between the mobile and desktop," Oppenheimer & Co.'s Jason Helfstein told CNBC Wednesday, ahead of the earnings release. "So they learn about you on the desktop and use that data when you go on your mobile phone. It's a seamless experience for advertisers."
Following are key highlights from Facebook's second-quarter report:
Heading into Wednesday's earning release, powered by strong earnings growth, FB shares were up a meteoric 177% from their 52-week intraday low of $25.97 hit exactly one year ago on July 23, 2013.
Year to date, FB shares have rallied 30.47% to $71.30, handily beating the broad-based S&P 500's 7.3% gain, as well as the tech-heavy Nasdaq Composite's 15.9% rise.
Of 43 analysts who cover the stock, 34 rate shares "Buy," five an "Overweight" and four a "Hold." There are no "Underweights" or "Sells." The median 12-month price target is $80, with $90 named as the stock's high watermark, according to the Wall Street Journal.
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