Facebook: 4Q Earnings Snapshot
Posted Jan 30, 2019 05:15:53 PM.
This article is more than 5 years old.
MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported fourth-quarter net income of $6.88 billion.
The Menlo Park, California-based company said it had net income of $2.38 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.
The social media company posted revenue of $16.91 billion in the period, which also topped Street forecasts. Thirteen analysts surveyed by Zacks expected $16.37 billion.
Facebook shares have risen 14 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 per cent. In the final minutes of trading on Wednesday, shares hit $150.09, a decrease of 20 per cent in the last 12 months.
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The Associated Press
