Facebook Beats Street 4Q Forecasts

Facebook Inc. (FB) on Wednesday reported fourth-quarter earnings of $3.56 billion.

On a per-share basis, the Menlo Park, California-based company said it had net income of $1.21. Earnings, adjusted for one-time gains and costs, were $1.41 per share.

The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.

The social media company posted revenue of $8.81 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $8.47 billion.

Facebook shares have increased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. In the final minutes of trading on Wednesday, shares hit $133.23, a rise of 16 percent in the last 12 months.

——



Add Comment

all comments

  Other news

more
Coins thrown into plane engine by elderly passenger for 'luck'

Coins thrown into plane engine by elderly passenger for 'luck'..

27-Jun, 16:36

A superstitious elderly passenger delayed a flight in Shanghai after...

Paddington Bear creator Michael Bond dies

Paddington Bear creator Michael Bond dies..

28-Jun, 08:43

Michael Bond, the creator of beloved children's character Paddington...

India Mumbai blasts convict dies of heart attack

India Mumbai blasts convict dies of heart attack..

28-Jun, 07:42

A man convicted of involvement in the 1993 Mumbai blasts has died of a...

Queen's Speech: Labour to force vote on public pay cap

Queen's Speech: Labour to force vote on public pay cap..

28-Jun, 02:54

Pay rises for five million public sector workers have effectively been...

Trump's gyrations on NAFTA cause a flurry of head-scratching

Trump's gyrations on NAFTA cause a flurry of head-scratching..

27-Apr, 18:48

President Donald Trump campaigned on an "America First" trade policy of...

North Korea accuses US, South Korea of assassination attempt

North Korea accuses US, South Korea of assassination attempt..

05-May, 08:16

North Korea on Friday accused the U.S. and South Korean spy agencies of...

FBI deflects House Oversight Committee's request for documents

FBI deflects House Oversight Committee's request for documents..

25-May, 17:08

House Oversight Committee Chairman Jason Chaffetz, R-Utah, is renewing...

Fitbit tracks your steps; now it wants to chart your Zs, too

Fitbit tracks your steps; now it wants to chart your Zs, too..

06-Mar, 09:05

Fitbit, whose devices encourage people to walk 10,000 steps each day, now...