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Facebook's fourth-quarter earnings beat Wall Street expectations

Facebook's fourth-quarter earnings beat Wall Street expectations

Facebook Inc. on Wednesday reported fourth-quarter earnings of $3.56 billion.

On a per-share basis, the Menlo Park, Calif., social media giant said it had net income of $1.21. Adjusted for one-time gains and costs, earnings were $1.41 a share.

The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.34 a share.

Facebook posted revenue of $8.81 billion in the period, which also beat Wall Street forecasts. Eleven analysts surveyed by Zacks expected $8.47 billion.

Analysts said Wednesday morning they expected the company, led by Mark Zuckerberg, to report growth in its user base and...

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