Facebook earnings: Wall street bets against company warning
Facebook earnings: Wall street bets against company warning
Facebook is set to report earnings after the bell on Tuesday and investors will be looking for signs to see if the social networking giant can sustain its strong growth story.
Solid earnings have helped push the company's stock price up more than 30 percent during the last six months. In the second quarter the company reported revenue of $1.81 billion, a 53 percent increase from the same quarter a year ago, and earnings of 19 cents per share.
But the company warned during its earnings conference call last quarter that investors should not expect to see the same kind of top line growth during the second half of the year. Despite the company's caution, Wall Street's estimates are still pretty optimistic.
The company is expected to post earnings of $0.40 per share on revenue of $3.12 billion, according to a survey of analysts by Thomson Reuters. Year-over-year, that's growth of 61 percent and 55 percent, respectively.
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