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Facebook posts record profit amid privacy scandals, shares surge 8%
As privacy controversy after privacy controversy have rocked Facebook Inc. , shares rose roughly 8% in the extended session Wednesday following the company's record fourth-quarter profit that beat Wall Street expectations. The company reported fourth-quarter net income of $6.88 billion, or $2.38 a share, compared with $4.27 billion, or $1.44 a share, in the year-ago period. Revenue rose to $16.91 billion from $12.97 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $2.18 a share on revenue of $16.39 billion. Faecbook reported daily active user growth of 9% to 1.52 billion and monthly active user growth of 9% to 2.32 billion. For the first quarter, analysts model earnings of $1.57 on sales of $14.8 billion. Facebook stock has fallen 20% in the past year, with the S&P 500 index falling 6.6%.
https://finance.yahoo.com/m/e5917cf...2/facebook-posts-record-profit.html?.tsrc=rss
As privacy controversy after privacy controversy have rocked Facebook Inc. , shares rose roughly 8% in the extended session Wednesday following the company's record fourth-quarter profit that beat Wall Street expectations. The company reported fourth-quarter net income of $6.88 billion, or $2.38 a share, compared with $4.27 billion, or $1.44 a share, in the year-ago period. Revenue rose to $16.91 billion from $12.97 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $2.18 a share on revenue of $16.39 billion. Faecbook reported daily active user growth of 9% to 1.52 billion and monthly active user growth of 9% to 2.32 billion. For the first quarter, analysts model earnings of $1.57 on sales of $14.8 billion. Facebook stock has fallen 20% in the past year, with the S&P 500 index falling 6.6%.
https://finance.yahoo.com/m/e5917cf...2/facebook-posts-record-profit.html?.tsrc=rss
