Facebook's stock surged more than 19% Wednesday, marking its best one-day gain since the company went public by far, as investors welcomed a healthy boost in sales.
The social media giant delivered third-quarter sales of almost $1.3 billion when it reported earnings after the closing bell Tuesday. That's up 24% from a year earlier.
In particular, investors were impressed by Facebook's ability to earn about $150 million from mobile, accounting for 14% MOREHibah Yousuf - Oct 24, 2012 4:01 PM ET
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
Facebook (FB) is on a tear lately. Shares are up about 17% since CEO Mark Zuckerberg spoke at the TechCrunch Disrupt conference last week and merely stated the obvious: that the performance of the stock after MOREPaul R. La Monica - Sep 20, 2012 1:05 PM ET
Shares of Facebook (FB) were having a nice day for a change on Wednesday. But another social network stock more accustomed to being a darling of Wall Street was also gaining ground. LinkedIn (LNKD) was up more than 6% after an analyst at Jefferies resumed coverage on the stock with a "buy" rating. Shares are now only about 7% below the all-time trading high that LinkedIn hit when it debuted MOREPaul R. La Monica - Sep 5, 2012 2:41 PM ET
Sina Corp., which operates China's Twitter-like microblogging site Weibo, posted a surprise second-quarter profit of $33.2 million, more than triple the amount a year ago.
The results, which included an 11% jump in revenue, blew investors away since analysts had predicted that the company would post a slim loss for the quarter. Shares of Sina (SINA), surged 14% to their highest level since May.
Sina's CEO Charles Chao noted that Weibo, which MOREHibah Yousuf - Aug 16, 2012 3:22 PM ET
At this rate, Groupon (GRPN) may never get back to a $6 billion market value. That number, in case you forgot, is what Google (GOOG) reportedly offered to buy Groupon for back in 2010. Groupon went public instead.
Shares of Groupon plunged 23% Tuesday to a new all-time low after the company reported revenues that missed forecasts and sluggish guidance after the bell Monday. Groupon's market value is now below $4 MOREPaul R. La Monica - Aug 14, 2012 10:22 AM ET
Things were finally looking up for Facebook (FB) on Friday. Shares rose in early trading Friday. If those gains hold, Facebook will snap a six-day losing streak on Wall Street. Have shares finally bottomed? Tough to say. The stock still seems overvalued at about 40 times 2012 earnings forecasts.
Investors are still worried about slowing growth. Big institutions have started to dump the shares. Facebook temporarily dipped below $20 (teenage wasteland!) MOREPaul R. La Monica - Aug 3, 2012 9:58 AM ET
LinkedIn (LNKD) has more than doubled from its initial public offering price. It's even up more than 10% from its first day closing price. Facebook (FB)? Not so much.
When LinkedIn, aka the social networking site that actually has a diverse revenue stream, reports its latest earnings on Thursday, investors are clearly hoping that the company's hot streak will continue. Check out how well LinkedIn has fared compared to its rivals MOREPaul R. La Monica - Jul 30, 2012 12:42 PM ET
I doubt that there were any champagne corks popping in Facebook's (FB) Menlo Park headquarters Monday. But for what it's worth, Facebook hit a milestone in its brief history as a public company: Shares rose 4.7%, marking the first time that the stock was up for three straight days.
The winning streak hit four Tuesday. Facebook shares rose another 1.6%. So investors who bought Facebook on the day of its bungled MOREPaul R. La Monica - Jun 19, 2012 4:20 PM ET
#StupidStock move of the day! Yes, $LNKD is insanely expensive. But why down 5% today? Still a better growth story than $FB if you ask me.— Paul R. La Monica (@LaMonicaBuzz) May 31, 2012
I try not to drink the tech Kool-Aid too often -- although I did work at Red Herring in 2000 and 2001 (Remember those magazines that were the size of phone books ... that were soon replaced MOREPaul R. La Monica - May 31, 2012 2:01 PM ET
Maybe Facebook (FB) stock will be trading much higher in May 2013 than where it is right now. Maybe not. But investors shouldn't dismiss all social media as a fad just because Facebook's IPO has so far been more FaceBust than FaceBoom. LinkedIn (LNKD), often described as a FaceBook for professionals, went public just about a year ago. It's stock surged on its first day of trading, gaining 109%. But MOREPaul R. La Monica - May 23, 2012 10:06 AM ET
Not a member yet?Sign up now for a free account
|5 people you might not tip (but should)|
|Lara Spencer promoted to 'Good Morning America' co-host|
|Where you live plays a big role in your total income tax bill|
|When she earns more than he does - More Money|
|Stocks: It's report card time on Wall Street|