Facebook Q4 Revenue Soars 51%, Thanks To Mobile Ads

Facebook stock chart weekly view

The company reported fourth-quarter revenue and earnings on Wednesday that beat analysts' estimates, sending shares up more than 3% in after-hours trading.

The company said that mobile advertising revenue represented 84pc of advertising revenue for the fourth quarter, up from 80pc a year ago. Analysts had expected revenue of $8.51 billion, according to Thomson Reuters.

Advertising revenue rose 53% year-over-year to $8.63 billion, surpassing analysts' expectations for $8.31 billion.

Net income attributable to Facebook shareholders rose to $3.56 billion, or $1.21 per share, from $1.56 billion, or 54 cents per share, a year earlier.

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When you get involved in supporting Go Red For Women by advocating, fundraising and sharing your story, you save more lives. The American Heart Association is encouraging everyone to wear red on National Red Day, which will be Friday, February 3rd.

Facebook reported that there were 1.2bn daily users on average, up 18pc year-on-year. So, the trend of Facebook relying more and more heavily on mobile ad revenue is clearly continuing.

For 2016, Facebook's revenue was $26.9 billion - up 57 percent from 2015.

"Our mission to connect the world is more important now than ever", FACEBOOK Founder/CEO MARK ZUCKERBERG said. "We believe that this creates a greater number of stronger relationships between people, and that it helps people get exposed to a greater number of diverse perspectives".

Facebook finishes full year with revenues of $27.6bn.

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Daily active users hit 1.23 billion, up from 1.18 billion last quarter and up 18% YoY, compared to 17% last quarter. Facebook -owned messaging apps WhatsApp and Messenger both have more than 1 billion monthly active users, and Instagram has more than 600 million monthly active users.

Facebook also continued to grow its mobile user base.

Facebook shares closed the day up about 2 percent to $133.23. Read the full earnings release here.

Earnings, adjusted for one-time gains and costs, were $1.41 per share in the latest quarter.

U.S. commando dies in Trump's first anti-terror raid
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Since the US election in November, Facebook has come under intense scrutiny for its role in the distribution of fake news during the campaign cycle.

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