- Patriot Act author on James Clapper: Fire, prosecute him
- Russia P.M. Medvedev: No amnesty for political prisoners
- Michigan GOP Senate hopeful reminds government is the ‘servant’
- Christmas, by Congress: Members mull a 15-cent tax on trees
- U.S. unemployment falls to five-year low of 7 percent; 203K jobs added
- World mourns Nelson Mandela and celebrates his life; burial set for Dec. 15
- Bill O’Reilly reminds: Nelson Mandela ‘was a communist’
- John Boehner says GOP should support gay candidates: ‘I do’
- Grass-Whopper: Pan-fried cricket burgers go over big in New York City
- CDC sees measles spike and ‘failure to vaccinate’
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.
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- Activists urge Obama to go rogue, sidestep Congress
- Bill OReilly reminds: Nelson Mandela was a communist
- PRUDEN: British press horrified as London's new mayor dares to proclaim the truth
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- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- MILLER: Obamacare enrollees include 101 members of the House of Representatives
- Obama downplays IRS scandal, blames Obamacare rollout on 'outdated' agencies
- Inside China: Nuclear submarines capable of widespread attack on U.S.
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