Facebook did it again. Another phenomenal quarter that beat expectations. The social media company released their Q2 earnings that beat on both earnings and revenue.
Earnings of 97 cents per share beat the predicted 81 cents by analysts and revenue of $6.44 billion beat the analysts’ prediction of $6 billion.
In the last quarter, Facebook also added 60 new million users and now has a total of 1.7 billion users. Analyst predictions had called for 1.69 billion.
Shares of Facebook soared 6% shortly after the earnings news that was released after the close. Prior to the earnings call, shares were up 27% in the past year.
Since going public in 2012, Facebook has only missed earnings expectations one time.
CEO Mark Zuckerberg commented, “Our community and business had another good quarter. We’re particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services.”
Disclaimer: We have no position in Facebook Inc. (NASDAQ: FB) and have not been compensated for this article.