Social-networking behemoth Facebook (FB) is poised to deliver a stellar quarterly earnings scorecard on Wednesday after the market closes, and the bigger the surprise, the higher the stock will go.
Facebook bulls, get ready. Analysts are already penciling in great numbers for earnings and revenue.
Across the technology sector, earnings have been good this quarter.
Streaming giant Netflix soared after blasting past third-quarter subscriber growth estimates.
Google parent Alphabet also posted third-quarter quarterly results that beat projections.
Facebook and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here. Want to be alerted before Cramer buys or sells FB and GOOGL? Learn more now.
Even beleaguered Twitter surpassed third-quarter earnings expectations.
Only ecommerce giant Amazon disappointed, reporting third-quarter earnings that fell short of expectations by a sizable margin.
However, Facebook, with its shares inching close to all-time highs, could push forward rapidly and lead this pack of high-octane tech stocks.
Analysts expect Facebook to report earnings of 97 cents a share, which would be up 70.2% from a year earlier on revenue of $6.92 billion, which would represent a 53.8% increase. Higher user traffic, rising daily engagement levels and impressive advertising metrics are all positives for Facebook.
