One Factor Driving Facebook (FB) Stock Up Today

NEW YORK (TheStreet) -- Facebook  (FB) rose 0.88% to $63.17 at noon on Wednesday after messaging service WhatsApp posted record numbers on Tuesday.

The popular messaging service, which Facebook purchased for $19 billion, announced on Twitter that it handled 64 billion messages on Tuesday, a record for the cross-platform service. WhatsApp handled 20 billion messages sent and 44 million messages received; however, the service counts a single message sent to a group as separate received messages, which is why the received messages number is more than double the sent messages number.

The record trumped even New Year's Eve. As 2013 became 2014, WhatsApp users sent 18 billion messages for a total of 54 billion; this tripled the number from 2012 into 2013.

WhatsApp is set to introduce voice chat for its more than 465 million users in the second quarter of 2014.

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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 company's return on equity has been disappointing."

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