Facebook analysts say to hell with GAAP….docx - Facebook analysts say to hell with GAAP… On Tuesday afternoon Facebook(FB released its third quarter

Facebook analysts say to hell with GAAP….docx - Facebook...

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Facebook analysts say to hell with GAAP… On Tuesday afternoon, Facebook (FB) released its third quarter earnings right on schedule, unlike some other companies that have managed to blow the timing of their 3rd quarter releases over the past week as I documented over on DealBook . Starting Tuesday afternoon, journalists at some of the largest outlets around began using words like “brilliant” to describe Facebook’s earnings. The headline at AllThingsD was “ Facebook delivers “. Bloomberg noted that third quarter sales “ beat expectations” . By Wednesday morning, analysts were practically falling all over themselves to raise their ratings on the stock. Streetinsider has a good round-up here of the various analysts thoughts and details on their ratings and price targets. As those analysts’ sage thoughts got disseminated around the inter- webs, Facebook stock started rising, closing up nearly 20% yesterday.
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