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© Reuters.
Investing.com – Facebook on Wednesday announced a profit and a turnover higher than badysts' estimates.
The social media giant has announced earnings per share of 2.38 USD on a turnover of 16.91 billion USD. Analysts surveyed by Investing.com were expecting EPS of 2.18 USD on a turnover of 16.4 billion USD.
The social media giant continues to add users to its platform despite the fact that a series of security breaches were thoroughly investigated last year, which reinforced calls in favor of increased regulatory oversight of social media platforms such as Facebook.
Monthly active users, one of the indicators used by badysts to gauge the health of the company, rose 9 percent to 2.32 billion in the fourth quarter, according to Wall Street estimates.
Daily active users (DAU) increased by 9% for the quarter to 1.52 billion euros, which is in line with estimates.
The growth in user growth propelled fourth-quarter ad sales to $ 16.64 billion, up 30% from the previous year. Costs rose 62 percent to $ 9.09 billion, as the social media giant continues to work hard to strengthen the security of its websites.
"Our community and our business continue to grow," said Mark Zuckerberg, founder and CEO of Facebook. "We have fundamentally changed the way we manage our society to focus on the most important social issues, and we are investing more in creating new and inspiring ways for people to connect."
Facebook shares (NASDAQ 🙂 rose 7.23% to trade at $ 161.30 after trading hours.
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