Facebook Profit Surges On Ad Revenues

Chart of the day: Facebook shares gain ahead of earnings results

They were also expecting adjusted earnings of $1.31 per share. The same period from a year ago had $0.79 in EPS and $5.84 billion in revenue. Facebook said mobile advertising revenue comprised about 84% of total advertising revenue for the fourth quarter, up from 80% of total advertising revenue in same period a year ago.

GAAP earnings per share rose 124% year over year to $1.21 per share, while net income rose to $3.6 billion from $1.6 billion in the same quarter a year before. Profit reached $3.568 billion with revenue growth at 177% YoY, compared to $2.379 billion last quarter.

Facebook showed once again how it has become one of the world's biggest media companies.

Facebook is expected to generate about $29.71 billion in mobile ad revenue in 2017, according to research firm eMarketer, up about 35.2 percent from 2016.

"Our business did well in 2016, but we have a lot of work ahead to help bring people together", Mark Zuckerberg, Facebook's CEO and cofounder, said in a statement. $4.55 billion of total revenues came from the USA and Canada, $2.06 billion from Europe, $1.34 billion from Asia Pacific, and $839 million from the rest of the world. That's a major increase from the same period a year earlier, when mobile ads accounted for 77% of the company's revenue.

Will Trump add Saudi Arabia and Egypt to his Muslim ban?
Relations suffered briefly after 15 Saudi nationals took part in the September 11, 2001, attacks on NY and Washington . Trump will also talk to the acting president of South Korea, Hwang Kyo-Ahn, the White House said on Saturday.

"We had a very strong quarter topping off a strong year", Facebook COO Sheryl Sandberg said in a phone call after the release.

Monthly active users (MAUs) were 1.86 billion as of December 31, 2016, up 17% from December 2015.

Facebook reported fourth-quarter earnings on Wednesday.

Shares of Facebook closed Wednesday up 2.2% at $133.23, with a consensus analyst price target of $ and a 52-week trading range of $ to $. That knocked the stock down 9 percent in the hours immediately after the report.

Despite ongoing concerns that Facebook could be losing ground to newer rivals such as Snapchat, it appears to keeping people coming.

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