Investors Like Facebook Results, Love Mobile Ad Growth
Facebook is surging in after-hours trading after it announced monthly active users came in at 1.23 billion, up 16%, and mobile ad revenue accounted for 53% of total revenue.
Facebook posted earnings of 31 cents per share on revenue of $2.59 billion in its fourth quarter, beating Wall Street's consensus estimate of 27 cents on sales of $2.33 billion. As for details, monthly active users came in at 1.23 billion, up 16%. Mobile monthly active users came in at 945 million, up 39%, while all-important mobile ad revenue was 53% of total revenue. The company's shares finished down 3% in the regular session but are surging in post-market trading.
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