NEW YORK (TheStreet) -- Shares of Facebook Inc. (FB - Get Report) are gaining 8.57% to $77.40 in pre-market trading on Wednesday, after the social network company reported an increase in earnings per share of 42 cents for the 2014 second quarter, from 19 cents for the year ago quarter, beating the Capital IQ consensus estimate of 32 cents per share.
Facebook's revenue for the 2014 second quarter rose to $2.91 billion versus $1.81 billion for the 2013 second quarter.
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Sun Trust Banks (STI) also raised its numbers on Facebook to $90 from $72. TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation."
FB data by YCharts
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