Facebook Shares Jump In AHT on Stronger-than-expected Q4 Earnings
Shares of Facebook soared 3% in after-hours trade Wednesday before paring their gains to more than 1%. The company reported stronger-than-expected fourth-quarter earnings report with advertising revenue soaring more than 50% during the quarter.
Facebook said net income reached $3.6 billion, or $1.21 a share in the three-month period to December, compared with $1.6 billion, or 54 cents a share, in the year-earlier period. The company’s revenue jumped to $8.81 billion, smashing Wall Street consensus estimate of $8.5 billion and last year’s reading of $5.8 billion.
On a yearly basis, advertising revenue soared 53%, overwhelming a 12% decline in its much smaller payments and “other fees” segment, which includes the Oculus virtual-reality headset.
Facebook said monthly active users increased 17% year-over-year to 1.86 billion.
Buy Stop at 134.70, Take profit 138.00, Stop loss at 133.00