Facebook Profit Surges On Ad Revenues

Facebook Profit Surges On Ad Revenues

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.

Kennard's late 3 lifts No. 17 Duke past Wake Forest 85-83
The Duke drama hit its peak on Thursday this week when a meeting at coach Mike Krzyzewski's house was made public. Duke is also 2-10 ATS in their last 12 versus the ACC, and 1-7-1 ATS in their last nine road games.

"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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