Facebook shares back up to $28; company to report Q4 earnings Jan. 30

Facebook shares are up 5 percent today, closing at $28 on the first day of trading in 2013. The company also set the date for its 2012 fourth quarter earnings call: Jan. 30 at 2 p.m.

Today’s share price is as high as it has been since Dec. 13. This is only the third time Facebook has reached or exceeded $28 a share since late July.

The surge today is likely related to a number of analysts’ upgrades. Bank of America Merrill Lynch released a report predicting that Facebook’s mobile ad revenue will surpass its desktop revenues in 2014. BAML analysts expect Facebook to report 37 percent growth when it releases results for Q4.

BMO Financial Group upgraded Facebook stock from “underperform” to “outperform” and upped its price target from $15 to $32. J.P. Morgan Securities increased its price target to $35 from $29.

Facebook reported $1.262 billion in revenue for the third quarter of 2012 – a 32 percent increase year over year. On Jan. 30, we’ll get a look at how Facebook’s advertising business fared during the holiday season and an idea of how Facebook Gifts may be contributing to revenue growth in the U.S.

Related article: How Facebook’s latest monetization efforts may take shape in 2013

Creative Social Branding

Mediabistro Course

Creative Social Branding

Starting November 24, learn how to create a social buzz for your brand! You’ll learn how to engage with audiences on social platforms, identify and engage with current trends and influencers, and build an excellent social strategy to amplify your numbers and rate engagement. Register now!

 

Leave a Reply

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Social Media Strategist

A Luxury Real Estate Developer
New York, NY

Newswire Editor

PR.com
New York City / Long Island, NY

Senior Social Media Brand Manager-Los Angeles Area

Brigade Marketing
Los Angeles, CA

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us