Shares of Facebook Inc(NASDAQ:FB) turned higher as the company posted better second quarter earnings with net income coming in line with analysts target, while revenue topped analysts’ forecast.
The company lost $157 million, or 8 cents a share, reversing a year ago profit of $240 million, or 11 cents a share.
Get Complete Analysis on Earnings on FB, HERE
On an adjusted basis, the company’s EPS stood at 12 cents a share, while revenue came in at $1.18 billion, compared to analysts target of 12 cents of profit on revenue of $1.15 billion.
Facebook daily active users 552 million for June, mobile MAUs 543 million end of June, monthly active users 955 million at end June.
Just after the earnings, Shares of company soared as much as 8%, but within a minute it came off highs and was recently up 3% in afterhours activity.