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Tuesday, October 23, 2012 - 3:30pm

After Bad Day For Market, Facebook's Revenue Rise Boosts Stock

Wall Street's bad day the Dow Jones industrial average fell more than 240 points (1.8 percent) has been followed by something unusual these days: good news about Facebook's shares.

The social media giant's stock is up about 10 percent in "after-hours" trading, to more than $21, because it just reported an increase in third-quarter revenue, to $1.3 billion from about $950 million in third-quarter 2011. The revenue was also about $300 million greater than analysts had been forecasting, Bloomberg News says.

What's more, as The Wall Street Journal notes, while the company "posted a loss of $59 million, or 2 cents a share," that was about $300 million better than expected.

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