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Facebook's Stock Is Going Crazy This Morning

Jay YarowJul 24, 2014, 17:57 IST

Facebook's stock is up 10% in pre-market trading as investors react to last night's earnings report.

That puts the stock above $78 for a new all-time high.

Facebook delivered $2.91 billion in revenue, up 61% year-over-year, beating expectations of $2.81 billion. EPS was $0.42, up 121% year-over-year, and well ahead of expectations of $0.32.

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Facebook's operating margins hit 59%, an all-time high, which helped fuel the profit growth.

And then there's the future. Facebook has Instagram, WhatsApp, Messages, Oculus, and much more to fuel its growth in the long run.