Shares of Facebook rose after the social media network reported quarterly results that beat analyst expectations following the prior session’s close. Facebook reported fourth-quarter earnings of $0.54 a share, up from $0.31 a share a year ago. Revenue rose to $3.85 billion from $2.59 billion last year. Analysts were expecting earnings of $0.49 a share on revenue of $3.77 billion, according to Thomson Reuters. In terms of users, Facebook saw its biggest jump in its mobile daily active users, which rose 34% to 745 million. Daily active users also climbed 18% year-over-year to 890 million on average for December 2014. However, the company did see a significant jump in costs and expenses, which soared 87% to about $2.7 billion, attributed to the stock’s initial decline on the report.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
