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:

Pork scandal blamed for low Senate rating 43 mins elapsed No Filipinos taking up offer to flee from Libya turmoil 54 mins elapsed Airlines cancel Israel flights over Gaza rocket threat 58 mins elapsed US stocks rise on housing report, corporate earnings 2 hours elapsed Exit ‘Henry;’ enter ‘Inday’ 2 hours elapsed NBA stars help banish ‘Yolanda’ memory 2 hours elapsed All show, no play: ‘We never said there was a game’ 3 hours elapsed Indonesia’s new leader born in a river slum 3 hours 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