- New evidence could threaten Army sex assault case
- George Zimmerman signs autographs at Orlando gun show
- GOP lawmaker faces fire for NBA crime tweet
- Taliban vow to ‘use all force’ to disrupt Afghan elections
- Atheists sue to remove ‘Ground Zero Cross’ from 9/11 museum
- Bishop in Aleppo: ‘We Christians live in fear in Syria’
- Oscar Pistorius vomits during graphic testimony
- Toronto Mayor Rob Ford flubs daylight saving time advice: ‘Turn your clocks back’
- Americans don’t support sending U.S. troops to Ukraine
- Florida lawmakers move to wipe corrupt ‘Boss Hogg’ town from map
Facebook stock climbs after upgrade
NEW YORK (AP) - Facebook’s stock is climbing after an upgrade from an analyst who believes Wall Street is underestimating the company’s potential to grow revenue.
Bernstein Research analyst Carlos Kirjner said Monday that Facebook Inc. is likely to beat Wall Street’s revenue expectations over the next 12 to 24 months. He expects Facebook to hit $6.98 billion in revenue in 2013, some 9 percent higher than the average analyst’s expectation. In 2011, the social network reported revenue of $3.71 billion.
Kirjner upgraded Facebook’s stock to “Outperform” from “Market Perform,” saying that mobile advertising will drive revenue growth. He wrote in a note to investors that Facebook will likely be able to increase the number of advertisements its users view each day, with little chance they will see the additional ads as a “material deterioration” of their Facebook experience.
Facebook’s stock is up $1.85, or 7.7 percent, at $25.85. It’s still down 32 percent from its initial public offering price of $38.
TWT Video Picks
Taxpayers must pay the freight for over-budget train projects
- Kim Jong-un calls for execution of 33 Christians
- Senate Democrats, Republicans spar over restoring unemployment benefits
- Rand Paul wins 2014 CPAC straw poll, Ted Cruz finishes a distant second
- CURL: Today's GOP really is Reagan's 'Big Tent' party
- As Crimea falls, Obama takes Key Largo golf vacation, Biden hits Virgin Islands
- Mitch McConnell on beating tea party: 'We are going to crush them'
- Arrest made in Ohio bar shooting that killed 3
- SAUERBREY: Taxing Marylanders until they flee
- Bill Clinton poses for photo with Bunny Ranch prostitutes
- Florida lawmakers move to wipe corrupt 'Boss Hogg' town from map
Pope Francis meets his 'mini-me'
Celebrity deaths in 2014
Winter storm hits states — again