Facebook stock up 5% after strong results

Facebook, stock, revenue, market,

Facebook shares recorded an increase of 5% on Thursday. The stock was up following a day after the social network reported a strong quarter third time in line. If Facebook’s share continues to maintain the high performance through Thursday’s session, it would translate to a nearly $26 billion gain in value for the company. Facebook’s revenue reported an increase of 29% to $17.65 billion, beating estimates of $17.37 billion.

The company stock was last up 4.8% at $197.27, still around 22% off analysts’ median price target of $240. Facebook is the world’s No. 2 seller of online ads. The social network stated that revenue would grow more slowly in the fourth quarter, at closer to about 20% to 25%.

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