NEW YORK (TheStreet) -- Facebook(FB) - Get Report shares are soaring 2.78% to $106.89 in after-hours trading following the social networking company's third quarter fiscal 2015 earnings results that exceeded analysts' expectations.
For the quarter ended September 30, the company earned $0.57 a share on revenue of $4.5 billion.
Analysts had expected the company to earn 52 cents a share on revenue of $4.37 billion.
In the third quarter the previous year, the company earned 43 cents a share on revenue of $3.2 billion.
Overall, monthly active users grew 14.8% year-over-year to 1.55 billion. In addition, mobile monthly active users grew 23% year-over-year to $1.39 billion.
Furthermore, sales for the latest quarter were boosted by strong advertising revenue figures. Year-over-year, ad revenue increased 45.2%.
Separately, TheStreet Ratings team rates FACEBOOK INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
We rate FACEBOOK INC (FB) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, good cash flow from operations, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: FB