Jim Cramer: Facebook Had a Remarkable Quarter

Facebook reported a remarkable quarter and the stock should be up more, says Jim Cramer
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Facebook (FB) - Get Report reported a remarkable quarter and the stock should be up more, said TheStreet's Jim Cramer. The social media giant posted second quarter earnings of $0.97 a share, $0.15 better than expected. Revenue of $6.44 billion was also better than the $6.02 billion that had been expected. As for details, daily active users were 1.13 billion on average for June 2016, an increase of 17 percent year-over-year. Mobile users were 1.03 billion on average for June 2016, an increase of 22 percent year-over-year. Mobile represented 84 percent of advertising revenue for the second quarter of 2016, up from 76 percent last year.