Facebook (FB) Higher Ahead of Q2 Results After the Close

Facebook (NASDAQ: FB) is up 2.4% into second quarter results after the close. Analysts on average are looking for EPS of $0.32 on revenues of $2.8 billion, representing growth of 68% and 137% respectively. According to StreetInsider.com's EPS Insider, Facebook has beaten the Street the past four quarters by an average rage of 31%. Over the last four quarters, shares have seen an average upside move of 13.9% in the week following earnings.

Raymond James' analyst Aaron Kessler estimates 2Q revenues of $2.85 billion slightly above consensus of $2.8 billion. He estimates mobile ad revenue of $1.62 billion and non-GAAP EPS of $0.38 vs. consensus of $0.32.

Kessler noted strong datapoints into the quarter; one major PMD increased ad spend in the high teens q/q 2Q. Also, according to comScore, total minutes on Facebook (PC + smartphone) increased 31% y/y in 2Q

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