An earnings beat has Facebook shares flying. Three experts give their take on the quarter.
div > div.group > p:first-child"> The social network added more than 6% on Thursday, racing to its highest level since July, after topping estimates on its top and bottom line for the first quarter. Investors also overlooked $3 billion in legal expenses tied to a Federal Trade Commission inquiry into privacy concerns.Mark Zgutowicz, senior analyst at Rosenblatt Securities, said that while the sales numbers were impressive, there was another figure that smashed his expectations.
Timothy Lesko, principal at Granite Investment Advisors, is unconcerned with the billions in legal costs this quarter.
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