Wedbush Securities: Facebook Will Likely Post Strong Results

Wedbush Securities' Shyam Patil says he expects Facebook to report a strong third quarter when it posts quarterly results on Tuesday after the closing bell.
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Wedbush Securities' Shyam Patil says he expects Facebook to report a strong third quarter when it posts quarterly results on Tuesday after the closing bell. Patil says his channel checks indicate Facebook will likely report a sequential double digit increase in advertising revenue. But, Patil believes Facebook’s share price may already reflect a strong quarter. Beyond, the ad revenue increase, Patil says there are multiple catalysts ahead that will provide positive momentum for the shares including video ads, off-network advertising and the eventual monetization of WhatsApp and Instagram. TheStreet's Ruben Ramirez reports from New York.