Facebook shares hit record high as it beats estimates again

The social networking giant beat market expectations for profit and revenue yet again in the latest quarter, pushing up its shares to a record high on Thursday and allowing it to overtake Warren Buffett's Berkshire Hathaway Inc as the fifth biggest U.S. company by market capitalization. Facebook's shares rose as much as 4 percent to $128.33, boosting its market value by $14 billion to $367 billion – enough to eclipse Berkshire's market cap of about $355 billion. At least 24 brokerages raised target prices on Facebook's stock, with a median target of $150.

Original story here.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply