• İstanbul 14 °C
  • Ankara -2 °C

Facebook now 5th most valuable company

Facebook now 5th most valuable company
Company's stocks reach all-time high

NEW YORK (AA) – Facebook became one of the top-5 most valuable companies in the world Thursday, topping $360 billion in value.

After beating expectations with strong second quarter earnings the day before, the stock value of the social media giant climbed to its all-time level reaching as high as $128.33.

That placed the company’s market capitalization at $362.5 billion during trading hours.

Meanwhile, multinational conglomerate Berkshire Hathaway saw its shares rise as high as $144.54 Thursday, placing its market capitalization at $355.6 billion.

Facebook shares jumped a little more than 4 percent, thanks to strong earnings, higher average users and bigger ad revenues.

In the second quarter the company's revenue rose by 59 percent to $6.44 billion, compared to a year ago, while net income jumped by 186 percent to $2.05 billion.

Meanwhile, revenue from advertisement soared by 63 percent year-over-year to reach $6.24 billion.

Monthly average users increased by 15 percent to 1.71 billion, while daily active users rose by 17 percent to 1.13 billion, during the same quarter.

The market and investors now wonder if Facebook may challenge for fourth place on the list of most valuable companies where ExxonMobil has a market capitalization of $377 billion as of Thursday.

While Apple is the world's most valuable firm, Google's parent company Alphabet comes second. Microsoft is in third place.

 

source: News Feed
This news is a total 504 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
  • Turkey: New companies rise 30pct17 November 2017 Friday 09:28
  • Borsa Istanbul starts day with rise17 November 2017 Friday 09:23
  • US House OKs $1.5T tax bill, but future uncertain17 November 2017 Friday 01:13
  • Turkish stocks down at close16 November 2017 Thursday 22:03
  • Turkey 'not indifferent' to inflation, says Deputy PM16 November 2017 Thursday 16:38
  • Merkel to limit coal despite high usage in Germany16 November 2017 Thursday 15:48
  • Turkey-Montenegro economic committee meets in Ankara16 November 2017 Thursday 14:13
  • Global finance summit kicks off in Istanbul16 November 2017 Thursday 14:08
  • Turkish, Qatari central banks sign cooperation pact16 November 2017 Thursday 11:08
  • Borsa Istanbul up at opening16 November 2017 Thursday 10:08
  • All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
    Haber Scripti: CM Bilişim