Live Blog Facebook Q3 Live Blog
NEW YORK (TheStreet) –– Facebook (FB) - Get Facebook, Inc. Class A Report will continue to show that it's an enormous money making machine, as the world's largest social network powers into the end of the year.
Menlo Park, Calif.-based Facebook, which has over 1.1 billion monthly active users (MAUs) has been a dominant company since it transitioned itself into a mobile first company in 2012. Sterne Agee analyst Arvind Bhatia, who rates Facebook "buy" with an $85 price target, believes that Facebook is continuing to take market share in the digital advertising world, and there appears to be no signs of slowing down. "Based on 3Q data from Nanigans suggesting acceleration in CPMs (Cost Per Thousand) and CTRs (Click-Through-Rates) and other checks, we have increased confidence 3Q advertising revenue could exceed consensus of $2.88 billion (+60% y/y)," Bhatia wrote in a research note. "We believe the digital advertising industry is growing faster than previously expected and FB continues to gain share."
Analysts surveyed by Thomson Reuters expect the company to earn 40 cents a share on $3.11 billion in revenue.
TheStreet is live-blogging the earnings and conference call starting at 3:50 p.m.
--Written by Chris Ciaccia in New York
>Contact by Email.