Why Facebook Stock Surged to a New All-Time High Today
Shares of Facebook (NASDAQ: FB) climbed 8.2% to a new closing high of $253.67 on Friday after the social media leader delivered better-than-expected second-quarter results.
Facebook's revenue rose 11% year over year to $18.7 billion. That was well ahead of Wall Street's estimates. Analysts had expected revenue of $17.4 billion.
The gains were driven by a 12% rise in both daily and monthly active Facebook users, to 1.8 billion and 2.7 billion, respectively. Across its entire family of apps, which includes Instagram and WhatsApp, Facebook's daily and monthly active users increased by 15% and 14%, respectively, to 2.5 billion and 3.1 billion.
Source Fool.com
