Facebook smashes on Q4 earnings with $8.81B in revenue and 1.86B users
And the Blue Juggernaut is back to its old ways of smashing through the earnings estimates with a whopping $8.81b in revenues as opposed to the analysts estimates of $8.51b. Not only that, FB found a way to increase its number of users by another 3.91% this quarter to 1.86b, up from 1.79b last quarter, reporting a strong EPS of $1.31.
Facebook has a tumultuous quarter, being blamed for helping Donald Trump get elected by allowing ‘fake news’ to be published. In other news, FaceBook was also charged with paying $5oom in damages for a NDA breach by Oculus c0-founder Palmer Luckey.
Regardless, Instagram continues to shine and expand its ad offerings. It’s decision to mimic the services on hand by Snapchat has allowed it to hit 150m users in 5 months after launch, leading many to believe that Instagram has been extensively and very successfully stealing users away from Snapchat.
As of 4:18pm EST, the stock was trading 2.38% higher post-market closing, or $3.17 up.