Facebook Inc (NASDAQ: FB) is firing on all cylinders, Douglas C. Lane & Associates’ Sarat Sethi said Thursday on CNBC’s “Squawk Box.”
What Happened: Facebook reported first-quarter earnings of $3.30 per share Wednesday, beating the estimate of $2.37, and revenue of $26.17 billion, beating the estimate of $23.67 billion.
“We had a strong quarter as we helped people stay connected and businesses grow. We will continue to invest aggressively to deliver new and meaningful experiences for years to come, including in newer areas like augmented and virtual reality, commerce, and the creator economy,” Mark Zuckerberg, Facebook’s founder and CEO, said in a press release.
The sum-of-the-parts of Facebook is what is really exciting about the company, Sethi said, adding that Instagram and WhatsApp have not yet been monetized.
“We are still in the early innings,” he said.
Sethi told CNBC that he would buy more Facebook stock at its current price.
Related Link: Facebook Surges To New Highs As Q1 Revenue Jumps 48%: What Investors Should Know
FB Price Action: Facebook was up 5.86% at $325.10 at last check.
Photo courtesy of Facebook.
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