Facebook shattered Wall Street's expectations on Wednesday by reporting a 51% year-over-year rise in revenue. Whereas analysts had expected revenue of $8.5 billion, the social media company registered $8.8 billion for the fourth quarter. Earnings were $1.41 a share, a 78% year-over-year gain and above the consensus estimate of $1.31 a share.
After the company released its results, shares of Facebook flew to an all-time high near $135 per share. Analysts are calling for the company's stock to hit as high as $175 per share. That would represent a nearly 35% gain from Thursday's share price.
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