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Facebook's Q4 beats across the board, monthly users up 17 percent

Facebook's Q4 beats across the board, monthly users up 17 percent

Shares of Facebook Inc (NASDAQ:FB) stock jumped by about 3% in after-hours trading tonight, touching a new record high above $136 per share. They were also expecting adjusted earnings of $1.31 per share. Ad revenue rose to 53% year over year to $8.6 billion, while analysts were looking for about $8.4 billion.

Facebook said daily active users climbed 18%, to 1.23 billion, in December 2016, versus the year-ago period. That included 1.15 billion users over mobile devices, up 23 percent. That would indicate mobile ad revenue was approximately $7.248 billion during the quarter, a 60.7% increase compared with roughly $4.510 billion a year earlier.

Facebook showed once again how it has become one of the world's biggest media companies. Last week, Google parent Alphabet Inc. reported better-than-expected fourth-quarter sales, and while a profit shortfall disappointed investors initially, analysts said Google's own mobile and video ad growth is accelerating.

Earnings per share minus items soared 78% to $1.41 a share, beating the consensus estimate of $1.31. Our business did well in 2016, but we have a lot of work ahead to help bring people together.

That means Facebook revenue grew nearly 52 percent over the same period past year.

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Facebook’s strong performance could also throw a shadow on the expected Snap Inc initial public offering

The world's largest social network now stands at more than 1.86 billion monthly active users (MAU), representing an increase of 17 percent from previous year.

Facebook continues to grow its user base.

Mobile users were 1.1bn daily on average, up 23pc year-on-year. Read the full earnings release here. Other important metrics to watch out for on Wednesday will be growth in mobile usage and Instagram's revenue growth.

Facebook has been adding features to attract more users and retain those already on the network, with a feature to tackle fake news posts being the most recent addition, after the criticism that followed the USA election on November 8.

More news: Iran Tests Another Ballistic Missile in Violation of UN Resolution

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