Category: Companies / October 31, 2013 10:54 AM EDT
After the closing bell on Wednesday, Facebook Inc. (NASDAQ: FB) reported fiscal third-quarter earnings rose to $425 million, or 17 cents a share, compared with a loss of $59 million, or 2 cents a share, in the year-ago quarter. Excluding items, the social networking giant posted earnings of $621 million, or 25 cents per share, from $311 million, or 12 cents a share, in the year-earlier period. In after-hours trading on Wednesday, shares soared over 9 percent to $53.78 on the news after the company said revenue soared 60 percent in the quarter to $2.02 billion from $1.26 billion a year ago.
On Thursday, shares of Facebook fell 2.06 percent to $48.00 in morning trading.
Also after the bell on Wednesday, Visa Inc. (NYSE: V), Starbucks Corporation (NASDAQ: SBUX) and Expedia Inc. (NASDAQ: EXPE) reported quarterly earnings.
Starbucks Corporation (NASDAQ: SBUX) reported fiscal fourth-quarter earnings that beat analysts' expectations on Wednesday, while revenue came in line with estimates. The company posted earnings of $481.1 million, or 63 cents per share, from $359 million, or 46 cents per share, a year earlier.
Shares fell 1.88 percent to $79.31 in morning trading after the coffee chain issued a 2014 profit outlook that was below expectations.
Revenue increased 13 percent to $3.80 billion from $3.36 billion a year ago.
Before the opening bell on Thursday, Exxon Mobil Corporation (NYSE: XOM) reported fiscal third-quarter profit dropped 18 percent from last year it its latest quarterly earnings report. The company posted earnings of $7.87 billion, or $1.79 per share, compared with $9.57 billion, or $2.09 per share, a year earlier. Revenue fell 2 percent to $112.37 billion.
Shares of Exxon Mobil edged up 0.65 percent to $89.41 in morning trading.