MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported second-quarter earnings of $10.39 billion.

On a per-share basis, the Menlo Park, California-based company said it had net income of $3.61.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $3.03 per share.

The social media company posted revenue of $29.08 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $27.93 billion.

Facebook shares have climbed 37% since the beginning of the year, while the S&P's 500 index has risen 17%. In the final minutes of trading on Wednesday, shares hit $373.28, an increase of 62% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FB

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