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WORLD

Facebook 4Q results surpass expectations

31.01.2013 [20:14]
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Baku, January 31 (AZERTAC). Facebook delivered fourth-quarter results above Wall Street's expectations Wednesday and said its mobile ad revenue - a closely watched figure - is growing.

"Everything was slightly better than expected," said Wedbush Securities analyst Michael Pachter.

Facebook's stock increased 16 cents to $31.40 in after-hours trading after briefly dipping lower just after the release of the results.

Facebook Inc., the world's largest social media company, earned $64 million, or 3 cents per share, in the October-December period. That's down from $360 million, or 14 cents per share, a year earlier when it was still a privately held company.

Revenue rose 40 percent to $1.59 billion from $1.13 billion.

Excluding special items, mainly related to stock compensation expenses, Menlo Park, Calif.-based Facebook earned 17 cents per share in the latest quarter.

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