Facebook stock surges after company reports strong Q4 results. The social media giant market surged in after-hours trading as the company posted strong financial numbers for fiscal fourth-quarter earnings Wednesday.
Facebook repored earnings of $2.38 per share on revenue of $16.91 billion, compared to forecast estimates of $16.91 billion on revenue of $16.39 billion by Refinitiv consensus.
The company added 2.32 billion monthly active users and posted $7.37 average revenue per user, while FactSet forecasted $7.11.
The figures indicates a strong financial quarter for the social media gaint. It posted total $6.88 billion of net income, 61 percent increase from the year-ago quarter.
Facebook is now expecting growth between 40 percent and 50 percent in its full-year expenses, compared to the full year of 2018.
In December quarter, the company’s daily active users and monthly active users rose 1.8 percent quarter over quarter, and 8.6 percent year over year respectively.
Daily active users incerased in each geographic region and monthly active users remained stable in North America but grew in other area.
“We believe these numbers better reflect the size of our community and the fact that many people are using more than one of our services,” Chief Financial Officer David Wehner said. “For the time being we will continue to disclose both set of numbers, but over time we expect family metrics will play the primary role in how we talk about our company, and we will eventually phase out Facebook-only community metrics.”