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02 February 2017, 12:47 | Candice Butler
Facebook reported $8.81 billion in revenue during its quarterly earnings on Wednesday, $8.63 billion of which was due to advertising. While the pace appears to have slowed somewhat as compared to past year, Facebook still managed to yield earnings per share of $1.41.
Facebook had another strong quarter in Q4 2016, earning $8.81 billion in revenue and $1.41 EPS.
Facebook said 84 per cent of its advertising revenue was generated on mobile devices in the fourth quarter of 2016, up from around 80 per cent in the previous year.
Facebook said daily active users climbed 18%, to 1.23 billion, in December 2016, versus the year-ago period.
Mobile DAUs - Mobile DAUs were 1.15 billion on average for December 2016, an increase of 23% year-over-year. Profits more than doubled from a year ago, to $3.6 billion, or $1.21 a share. But all of that hasn't eaten into Facebook's bottom line. Both earnings and revenues trumped Wall Street expectations.
Earnings, adjusted for one-time gains and costs, were $1.41 per share in the latest quarter.
Facebook has faced doubts about whether it can continue its runaway success in the face of such limits, as well as its absence from the Chinese market and criticism about its handling of so-called "fake news" posts during last year's USA election.
Facebook said Wednesday that 1.86 billion people use the social network at least once a month.
For now, Facebook's ability to simultaneously grow users and revenue is impressive. The stock further, gained $2.70 or 2.03% in the after-hours trading.
Overall, the biggest driver in revenue and user growth is on mobile.
Since the USA election in November, Facebook has come under intense scrutiny for its role in the distribution of fake news during the campaign cycle.
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