Facebook (NASDAQ:FB) may be one of the best long-term investment opportunities in the stock market today. Such a bullish view could take investors by surprise for a number of reasons. First, the stock is already up significantly this year, soaring 34%. Additionally, Facebook has a market capitalization greater than $1 trillion. Some investors, therefore, might ask: How much bigger can the social network get?
But a closer look at this growth stock shows good reasons to bet on it for potential market outperformance over the next 10 years.
Soaring sales
If there's any doubt about Facebook's continued dominance, the company's most recent quarterly results should address those concerns. Revenue during the period surged 56% year over year as advertisers ramped up their ad spend during a reopening economy. This put total revenue for the period at an incredible $29 billion.
"Advertising revenue growth in the second quarter of 2021 was driven by a 47% year-over-year increase in the average price per ad and a 6% increase in the number of ads delivered," the company said in its second-quarter earnings release.
Of course, management said it expected growth to decelerate in the second half of the year as the company begins to lap tougher year-ago comparisons. But analysts are still modeling for very strong growth during Q3. On average, they expect third-quarter revenue to rise 31% during the period.
Massive cash flow
Looking beyond Facebook's fast-growing top line, another reason to be...
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