The average American on Facebook spends about 40 minutes on the website every day, and amid announcing second-quarter earnings that blew Wall Street predictions away, CEO Mark Zuckerberg said on Wednesday that he sees room for growth.
The Huffington Post said most Americans spend 42 minutes a day
on grooming, which means they’re spending about the same amount of time on Facebook. That doesn’t even begin to touch the reported nine hours daily Americans spend on some form of digital media – and it’s that number that Zuckerberg said on an earnings call leaves him hoping to expand Facebook use.
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Facebook stock surged to an all-time high, hitting more than $76 a share Thursday, after the positive earnings report, Time reported
. Predictions for a $2.8 billion revenue for the second quarter slipped by the wayside as Zuckerberg reported revenue at $2.9 billion, with profit of $791 million and earnings of 42 cents a share (which Wall Street had predicted would be 32 cents).
The company reported 1.3 billion active monthly users, Time said, and mobile advertising continued to increase, accounting for 62 percent of the company’s ad revenue.
“Facebook's (FB) solid second-quarter performance surpassed our expectations for both revenue and profitability, as advertisers continue to increase spending across all geographies,” wrote Morningstar after the Q2 earnings were announced
The success of Facebook’s transition to mobile ads got some people talking online.
And the company apparently still has plenty of avenues to explore.
“Quarter after quarter, Facebook outperforms analysts’ expectations while leaving plenty of revenue levers untouched,” writes Forbes’ Jeff Bercovici
The magazine quoted at least one analyst who raised the target price for Facebook shares to $90 from $72.
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