Facebook Shares Rise After Third-quarter Earnings Beat

Facebook Inc. shares gained 3% after hours Wednesday after the company beat third-quarter earnings expectations. Facebook reported net income of $896 million, or 31 cents per share, up from $806 million, or 30 cents per share, in the year-earlier period. The company reported adjusted earnings per share of 57 cents, above the FactSet consensus of 52 cents. Facebook reported revenue of $4.50 billion, up from $3.20 billion in the year-earlier period and above the FactSet consensus of $4.37 billion. It reported monthly active users of 1.55 billion as of Sept. 30, a 14% increase year-over-year, and 1.01 billion daily active users, a 17% increase.

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