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Tuesday, October 23, 2012 - 3:30pm

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

Updated: 2 years ago.

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.

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

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