Facebook beats analysts' expectations for the sixth straight quarter

[Shawn Knight]

Facebook on Wednesday turned in yet another stellar earnings report that topped analysts’ estimates across the board.

For the third quarter ending September 30, the world’s largest social network reported revenue of $7.01 billion with earnings per share of $1.09 versus analyst estimates of $6.92 billion and $0.97 in revenue and profit, respectively. Revenue was up 56 percent compared to the $4.5 billion Facebook earned in the same period a year ago.

As The Wall Street Journal highlights, this is the sixth straight quarter in which Facebook has topped analysts’ expectations.

Facebook said it now has 1.79 billion monthly active users, up from 1.71 billion last quarter. That’s a mind-boggling figure when you consider that the global population sits somewhere around the 7.4 billion mark meaning nearly one in four people on the planet are now using Facebook.

Facebook’s mobile advertising unit continues to serve as the social network’s cash cow. Advertising as a whole accounted for 78 percent of Facebook’s total revenue – of that, mobile devices contributed 84 percent.

Founder and CEO Mark Zuckerberg said they had another good quarter, adding that they’re making progress putting video first across their apps and executing their 10-year technology roadmap.

With its core social network and other properties such as Instagram, WhatsApp and Oculus VR, Zuckerberg and company’s future certainly looks promising.

Image courtesy Bloomberg News

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[Bigtruckseries]

I bought into Facebook early on - and suffered buyers remorse when the stock dropped...

Rather than getting scared and selling - like I told my friend not to do with Facebook Alibaba and Apple, I stuck in there.

NOW LOOK.

August 31st 2012 it was $18.

Now it's over $127.

Also glad I didn't bail out of my marijuana shares.

All you techspot readers should open up a Scottrade account or ING and be buying shares cause long-term, many of these companies are viable.

I bought 500 shares of Tesla back in 2012. Probably my best trade to date. Disappointed it only got to the $280 range and never hit my "sell all" of $300...but I'm still way up.