Facebook earnings: 34 cents a share, ex-items, vs. expected 24 cents a share

Analysts had expected the company to report earnings excluding items of 24 cents a share on $2.36 billion in revenue, according to a consensus estimate from Thomson Reuters.. Credit Suisse recently upgraded Facebook to "outperform" from "neutral" and raised its price target to $87 from $65, preceding a rally in social media stocks.