Quantcast

Facebook stock climbs after upgrade



Bernstein Research analyst Carlos Kirjner said Monday, Nov. 26, 2012, that Facebook Inc. is likely to beat Wall Street’s revenue expectations over the next 12 to 24 months. AP PHOTO

NEW YORK—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.

Facebook’s stock is up $1.85, or 7.7 percent, at $25.84. It’s still down 32 percent from its initial public offering price of $38.









Recent Stories:

Century Properties to diversify into commercial leasing 13 mins elapsed Islamic State group becomes target of Arab satire 44 mins elapsed Marathon match OK, marathon no way—Errani 48 mins elapsed NBP inmate takes female civilian as hostage 51 mins elapsed BuCor jails congested by as much as 249 percent–report 58 mins elapsed Japan urges toilet paper stock for major quake 1 hour elapsed On pullout of peacekeepers: Safety of PH troops paramount, AFP says 1 hour elapsed Gunman in New Zealand kills 2, flees on bicycle 1 hour elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement Advertisement
Advertisement
Marketplace