Facebook Rebounds Back With Strong Q4 Earnings

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Facebook Inc. (NASDAQ: FB) reported fourth-quarter financial results after markets closed Wednesday. The social media giant said that it had $2.38 in earnings per share (EPS) and $16.9 billion in revenue, compared with consensus estimates that called for $2.19 in EPS and $16.4 billion in revenue. The same period of last year reportedly had $1.44 in EPS and $12.97 billion in revenue.

During the latest quarter, daily active users totaled 1.52 billion on average for December 2018, an increase of 9% year over year, and monthly active users totaled 2.32 billion, an increase of 9%.

Mobile advertising revenue represented roughly 93% of advertising revenue, up from 89% in the fourth quarter of 2017.

Facebook did not offer any guidance in the release. However, the consensus estimates call for $1.59 in EPS and $14.78 billion in revenue for the current quarter.

Mark Zuckerberg, Facebook’s founder and CEO, commented:

Our community and business continue to grow. We’ve fundamentally changed how we run our company to focus on the biggest social issues, and we’re investing more to build new and inspiring ways for people to connect.

Shares of Facebook closed Wednesday at $150.42, with a consensus analyst price target of $184.67 and a 52-week trading range of $123.02 to $218.62. Following the announcement, the stock was initially up over 6% at $160.33 in the after-hours session.

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