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Facebook (NASDAQ:FB) posted its quarterly earnings results on Wednesday. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04, American Banking & Market News reports. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 63.1% on a year-over-year basis.

A number of research firms have recently commented on FB. Analysts at Cowen and Company reiterated a “positive” rating on shares of Facebook in a research note to investors on Tuesday. On a related note, analysts at Cantor Fitzgerald reiterated an “in-line” rating on shares of Facebook in a research note to investors on Monday. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Facebook in a research note to investors on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $60.78.

In other Facebook news, CFO David Ebersman sold 23,400 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $57.59, for a total value of $1,347,606.00. Following the completion of the sale, the chief financial officer now directly owns 309,745 shares in the company, valued at approximately $17,838,215. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Facebook (NASDAQ:FB) traded down 2.92% during mid-day trading on Wednesday, hitting $53.53. The stock had a trading volume of 97,321,424 shares. Facebook has a 52-week low of $22.67 and a 52-week high of $59.31. The stock’s 50-day moving average is $55.59 and its 200-day moving average is $46.62. The company has a market cap of $131.4 billion and a price-to-earnings ratio of 141.02.

Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.

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