NEW YORK (TheStreet) -- Shares of Facebook (FB) - Get Report were falling 0.5% to $80.40 in after-hours Tuesday despite beating analysts' estimates for earnings and revenue in the third quarter.

The social media company reported earnings of 42 cents a share, beating the 40 cents a share analysts surveyed by FactSet expected. Revenue grew 58.3% year over year to $3.2 billion for the quarter, beating analysts' estimates of $3.12 billion for the quarter.

Facebook reported 864 million daily active users on average for September 2014, a 19% increase from the year-ago period. Mobile vaily active users were 703 million on average for September, a 39% increase from last year.

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The company said reported 1.35 billion monthly active users as of Sept. 30, a 14% increase year over year. Mobile monthly active users were 1.12 billion as of Sept 30, a 29% increase year over year.

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."

You can view the full analysis from the report here: FB Ratings Report

FB data by YCharts

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