Facebook surged after an upgrade to “outperform” by Bernstein Research’s Carlos Kirjner, who says that Wall Street is underestimating Facebook’s potential. Revenue is apt to hit $6.98 billion in 2013, or 9 percent higher than the average estimate, driven by growth in mobile advertising, he said. In 2011, the social network’s revenue was $3.71 billion.
November 27, 2012
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