Facebook (NASDAQ:FB) is scheduled to report its fourth quarter results on Wednesday, February 1st.
Facebook reported revenue of $8.8 billion, beating the consensus estimate of $8.5 billion and rising 51% year over year.
And that puts Facebook on track to hit 2 billion users later this year, a major milestone that no other Internet company has reached, says Jan Dawson, chief analyst with Jackdaw Research.
GAAP earnings per share rose 124% year over year to $1.21 per share, while net income rose to $3.6 billion from $1.6 billion in the same quarter a year before. It also said it had 1.15 billion daily users on mobile. The social media company reported earnings of 79 cents per share on $5.84 billion in the same quarter a year previously. So, the trend of Facebook relying more and more heavily on mobile ad revenue is clearly continuing.
Our mission to connect the world is more important now than ever.
Facebook reported Q4 earnings on Wednesday, once again surpassing Wall Street expectations.
Zuckerberg's statement was not that much longer than his statement from last November when addressing the company's third quarter earnings.
As of Wednesday's close, Facebook Inc. shares had increased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 2 percent.
The Apple of investors eyes, Facebook has had another strong quarter.
The number of daily active users rose 18% to 1.23 billion in December, while monthly active users rose 17% to 1.86 billion.
Adjusted earnings for the quarter rose to $4.15 billion or $1.41 per share from $2.27 billion or $0.79 per share past year.
Some analysts were anxious Facebook wouldn't be able to keep growing ad revenue quickly because it was running out of space to show ads to Facebook users, a phenomenon called "ad load". The stock further, gained $2.70 or 2.03% in the after-hours trading. The gains were a record for Facebook and represent its seventh straight quarterly revenue beat, buoyed by mobile video ads sales, including those on Instagram.
Since the US election in November, Facebook has come under intense scrutiny for its role in the distribution of fake news during the campaign cycle.