Facebook (FB) will announce 3rd Quarter earnings after the close today. Will Facebook earnings bring about a big move higher like fellow large caps Amazon (AMZN), Google (GOOGL)? Or are the forthcoming results already baked into the stock price? We’ll find out soon enough.
Current Wall Street analyst estimates call for 3Q Facebook Earnings of $0.52 on revenue of $4.37B.
Looking back at some past Facebook earnings dates on a weekly chart (see below) and we can see that the stock has pulled back after reporting earnings over the past several quarters. Famous last words: “Will this time will be different?”
Facebook’s stock price is currently pressing up against all-time highs heading into tonight’s 3Q earnings report. This means that it has been rallying as investors expectations are generally high. As a trader, I’d probably look to take some profits or hedge positions… but that’s just me.
Here’s the weekly chart:
Facebook (FB) Stock Chart – Pivots & Important Price Areas
Thanks for reading and have a great rest of your week.
Twitter: @mpgtrader
The author does not have a position in any mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
