Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Facebook Is Up 18% Pre-Market After Huge Earnings Beat

Steven PerlbergJan 30, 2014, 18:55 IST

Steve Jennings/Getty Images

Following strong earnings growth, Facebook is up huge in pre-market trading.

Earnings per share were at $0.31 ($0.27 estimated) while revenue was at $2.59 billion ($2.35 billion expected).

Shares are launching up 18% pre-market.

Mobile ad revenues paved the way for the earnings beat.

"Facebook is basically a mobile company right now - a majority of its revenues come from mobile, not from the desktop product," explained our Jim Edwards. "And the vast majority of its active users are mobile users."

The company is seeing upgrades across Wall Street today.