Facebook recovers as Street likes robust results
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Facebook recovers as Street likes robust results
SAN FRANCISCO (MarketWatch) — Facebook Inc. bounced back from losses to rally on Thursday as Wall Street chose to focus on the social-media company’s strong earnings over signs of a decline in teen users.
Avon Products Inc. was the biggest loser in the S&P 500 after its quarterly results missed the mark.
Facebook (NASDAQ:FB) shares rose 2% after the company late Wednesday said it swung to profit with 60% revenue growth, beating expectations. But the shares had come under pressure earlier as investors zeroed in on the decline in daily use by younger teens and plans for newsfeed ads, which have helped drive revenue growth in 2013.
Still, Facebook’s decision not to be too aggressive with its newsfeed ads is expected to serve as a cautionary tale for investors ahead of Twitter Inc.’s (NYSE:TWTR) initial public offering as social-media companies struggle with slower growth in users. http://www.marketwatch.com/story/facebook-gai...2013-10-31
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