4/25, 3:35 PM (Source: TeleTrader)
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Facebook reaches nine-month high on earnings

Facebook Inc. extended premarket gains and climbed as much as 8.71% at 9:33 am ET to $198.48 per share upon the opening bell in New York on Thursday, helping the Nasdaq 100 to an all-time intraday high. The level was the highest since July 25.

The world's biggest social media operator yesterday revealed the number of daily active users of the Stories features topped 500 million on Instagram as well as on Facebook, Messenger and WhatsApp. Turnover in the first quarter surpassed Wall Street consensus, though a one-off provision for legal costs in relation to a privacy breach scandal halved profits. Growth in daily active users met expectations and average revenue per person hit $6.42, also above forecasts. The technology giant said it has three million advertisers in Stories.

Shares jumped 51.41% since the start of the year, compared to a rally of 23.93% in the benchmark stock index.

Breaking the News / IT