Facebook surges on earnings; US stocks up slightly
Facebook shares bolted higher Thursday following a big earnings jump as US equities registered modest gains in opening trade.
Five minutes into trade, Facebook was up 4.6 percent after posting an
11 percent gain in third-quarter profits to $891 million behind a 41
percent surge in revenues to $4.5 billion. Many of Facebook’s gains came
from higher mobile advertising revenues.
The Dow Jones Industrial Average was up 22.64 points (0.13 percent) at 17,890.22.
The broad-based S&P 500 added 1.23 (0.06 percent) at 2,103.54,
while the tech-rich Nasdaq Composite Index rose 3.38 (0.07 percent) to
5,145.86.
