Barron's: A Return Visit To Earlier Stories: What's Next
By Andrew Bary
(FROM BARRON'S 7/29/13)
Facebook dealt a big blow to its doubters -- including Barron's -- last
week when it reported its best quarterly results since going public in May 2012.
The company's second-quarter revenue and profit handily topped Wall Street
estimates, prompting a surge of eight points, or 30%, in its share price to
Facebook's headline earnings of 19 cents a share excluding stock-based
compensation topped the consensus of 14 cents and were up 58% from 12 cents
in the year-earlier period. Revenue gained 53% to $1.8 billion, and mobile-
advertising revenues, the company's focus in recent quarters, totaled $656
million, about $200 million above estimates.
"We were wrong, Facebook mobile-ad spend crushes our short thesis,"