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Facebook Shares Rise As Q4 Earnings Beat Expectations

Deadline logo Deadline 2/1/2017 David Lieberman
© Provided by Deadline

Facebook CEO Mark Zuckerberg started his Q4 earnings report with an intriguing statement: “Our mission to connect the world is more important now than ever,” he said. “Our business did well in 2016, but we have a lot of work ahead to help bring people together.”

But most people reading the release will be more taken by the stronger-than-expected numbers. They helped to lift the stock by about 2.4% in post-market trading.

They seemed to offset any concerns investors might have after a Dallas jury today ordered Facebook to pay $500 million in damages to Zenimax for violating a non-disclosure order involving its Oculus Rift virtual reality headset.

The social media company reported net income of $3.57 billion, up 128% vs the period last year, on revenue of $8.81 billion, up 50.7%. The top line handily beat analyst forecasts for $8.51 billion.

Adjusted earnings at $1.41 a share also topped predictions for $1.31.

Mobile accounted for about 84% of ad revenues, up from 80% a year ago. The number of mobile monthly average users was up 21% to 1.74 billion.

Total monthly average users came in at 1.86 billion, up 17% — and ahead of the Street’s forecast for 1.83 billion.

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