Facebook (NYSE:FB) shares are trading higher by 2.7% at $360.58 in sympathy with Twitter Inc (NYSE:TWTR) and Snap Inc (NYSE:SNAP) after the companies reported second-quarter earnings results, respectively. In addition, Credit Suisse maintained an Outperform rating on Facebook and raised its price target on the stock from $400 to $480.
Twitter reported quarterly earnings of 8 cents per share which beat the analyst consensus estimate of 7 cents per share. Twitter reported quarterly sales of $1.19 billion which beat the analyst consensus estimate of $1.06 billion by 12% percent.
Snap reported quarterly earnings of 10 cents per share which beat the analyst consensus estimate of a loss of 1 cent per share. Snap reported quarterly sales of $982.11 million which beat the analyst consensus estimate of $844.98 million by 16.23%.
Facebook has a 52-week high of $362.25 and a 52-week low of $226.90.
