Facebook Stock Hits All-Time High After Strong Earnings Report

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By: Victor Luckerson | Time

Facebook stock climbed to an all-time high as it once again sailed past Wall Street’s expectations in its second quarterly earnings report of the year. The social network pulled in $2.9 billion in revenue for the quarter, beating analysts’ estimates of $2.8 billion.

The company generated a profit of $791 million. Earnings minus some line items were 42 cents per share, blowing past estimates of 32 cents per share. Facebook shares were priced above $74 in after-hours trading.

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