Facebook up 8% after hours as ad revenues surge

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Facebook up 8% after hours as ad revenues surge
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) - Shares of Facebook Inc. jumped 8% late Tuesday after the social networking giant posted results that modestly beat Street expectations. Facebook reported an adjusted profit of 12 cents a share, on revenue of $1.26 billion, compared with Wall Street's consensus expectation for an adjusted profit of 12 cents a share, on revenue of $1.23 billon. Susquehanna analyst Herman Leung noted that Facebook also reported a 36% gain in advertising revenue which he said was "much better than what the Street had expected."