Facebook is a massive gainer in premarket trading on Wednesday, following the company's third-quarter results.
NEW YORK (TheStreet) -- Facebook(:FB) was a massive gainer in premarket trading on Wednesday, following the company's third-quarter results, released late on Tuesday.
The social networking phenomenon edged past Wall Street's top- and bottom-line estimates and indicated that the company's mobile strategy is progressing.
The results clearly resonated with investors, driving Facebook's shares up 26.41% to $24.65 in premarket trading. Facebook was also the most active pre-market Nasdaq stock on share volume of 24,720,811.
Shares of Facebook partner Zynga(:ZNGA) were also boosted by the third-quarter results, rising 5% to $2.31 on share volume of 321,595.
Netflix(:NFLX) shares, however, plunged 17.38% to $56.36 on share volume of 173,018 following the company's third-quarter results, which saw weaker-than-expected U.S. streaming subscriber growth.
Shares of Apple(:AAPL) crept up 0.82% to $618.41 in premarket trading following the company's iPad Mini launch on Tuesday.
--Written by James Rogers in New York.
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