Facebook Stock Higher in After Hours as Earnings Crush Expectations

Facebook (FB) shares soared in after hours trading on the social networking company's strong third quarter earnings report. Earnings came in at $0.57 a share, topping estimates of $0.52 a share. Revenue of $4.5 billion also exceeded analysts' projections of $4.37 billion. Year-over-year, both the top and bottom line grew. During the recent quarter, Facebook said its monthly active users, a key metric analysts follow, increased 14.8% from last year's period to total over 1 and a half billion users. Along with these strong results, Facebook said it added 60 million users in the latest quarter. Let's compare this to Twitter (TWTR), which added only 3 million users in the latest period. Along with the report, CEO Mark Zuckerberg said, 'We're focused on innovating and investing for the long term to serve our community and connect the entire world.' TheStreet's U-Jin Lee reports from Wall Street.

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