NEW YORK (TheStreet) -- Shares of Facebook (FB) are higher in Thursday's trading session after reporting better-than-expected earnings results in Wednesday's after-hours session. 

While the company did beat on the top and bottom line, TheStreet's Debra Borchardt said most investors are excited about Facebook's fourth quarter revenues. 

The company reported total fourth quarter revenues of $2.95 billion and ad revenues of $2.34 billion, a year-over-year increase of 63% and 76%, respectively. 

She went on to say that Black Friday was the biggest advertising day for the company in terms of revenues. 

The company also said that there has been a large shift to mobile users, from desktop users. 

Borchardt concluded that investors are excited about the company's new app, Paper, and management's disciplined control over its spending.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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