Facebook's Earnings Please Investors; Stock Pops
Facebook (NASDAQ: FB) reported third-quarter 2019 results after the closing bell on Wednesday that pleased the market.
Shares of the social-networking and tech behemoth closed up 4.5% in Wednesday's after-hours session, which bodes well for the stock's performance on Thursday.
We can attribute the market's reaction to the company beating Wall Street's consensus estimates on both the top and bottom lines. Moreover, the market likely breathed a sigh of relief that year-over-year revenue growth in constant currency decelerated just 1% from the second quarter, as management had warned again last quarter that it expected this metric to decelerate sequentially throughout the year.
Source Fool.com
