Global stocks: Earnings shine

Many of our international stock picks reported strong results and we upgrade Facebook’s valuation.

Facebook reported stellar 3Q15 numbers that topped forecasts on almost every metric. 3QEPS came in at $US0.57 (consensus $US0.52). Total revenues were $US4.5 billion, up 51 per cent Y/Y (consensus $US4.3bn).

User growth and engagement continue to grow exponentially while increased ad demand is driving monetisation. Video is the key incremental driver. Instagram ad load growth should provide a larger contribution in 4Q.


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