Dallas, Texas 07/25/2013 (Financialstrend) – There had been strong expectations among analysts for the second quarter results of Facebook Inc (NASDAQ:FB) to be released shortly. Analysts at JP Morgan reported that they expect strong results, enhanced revenue growth from advertisements and such results are expected to boost up the share prices of the stock in the near future. It is further expected that if this near future surge in prices then the management will have to work hard to present strong revenue growth and profits for the second half of the fiscal year. JP Morgan is highly confident that the ad revenues that are to be obtained by the social networking provider would be at higher levels from the online, social and mobile advertising. Further analysts are also confident that Facebook would also be able to earn strong share in the market place for mobile advertising and thereby increase its ad revenues.
It is expected that Facebook would post revenues at $1.60 billion for this quarter and would present earnings per share at $0.13. While these are the expectations of the analysts at JP Morgan, the consensus estimates are at $1.39 billion, which is observed to be 40% higher than the revenues for the same quarter of previous year. Such strong expectations on the results are surging the share prices of Facebook in the market.
Facebook Inc (NASDAQ:FB) had gained 1.45% on Wednesday to close at $26.51 per share, after opening the day at a price of $26.32 per share. The stock had through the day moved with prices fluctuating between $26.05 and $26.53 per share. The company presently has 52 week low at $17.55 and 52 week high at $32.51. The institutional holding is at 34% and there are 2.42 billion shares outstanding in the market with a market cap of the stock presently at $64.10 billion.