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MENLO PARK — Facebook Inc. on Wednesday reported fourth-quarter earnings of $4.27 billion.
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MENLO PARK — Facebook Inc. on Wednesday reported fourth-quarter earnings of $4.27 billion.
The Menlo Park, California-based company said it had profit of $1.44 per share. Earnings, adjusted for pretax expenses, were $2.20 per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The social media company posted revenue of $12.97 billion in the period, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $12.58 billion.
Facebook shares have climbed roughly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 6 percent. In the final minutes of trading on Wednesday, shares hit $186.87, a climb of 43 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FB
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