Facebook revenue grows beyond Wall Street expectations
Facebook says its earnings and revenue continued to grow in the latest quarter, surpassing Wall Street’s expectations on both fronts as it expanded the number of users and the amount of money it makes on mobile ads.
The social networking company, based in Menlo Park, California, earned $523m, or 20 cents per share, in the October-December quarter.
That’s up $64m, or three cents per share, a year earlier. Adjusted earnings were $780m, or 31 cents per share, in the latest quarter.
Revenue grew 63% to $2.59bn, from $1.59bn.
FactSet says analysts, on average, had expected earnings of 27 cents per share on revenue of $2.35bn.
Facebook, which turns 10 years old next week, had 1.23 billion monthly users worldwide at the end of 2013.
