Facebook delivered fourth-quarter results above Wall Street’s expectations on Wednesday and sought to show that it has finally transformed into a “mobile company” after rising to dominance as a Web-based social network. Scott Budman reports.
Facebook just released its earnings, and it's growing like crazy in the mobile spot.
The biggest spotlight was on mobile growth, and for the first time, Facebook grew faster and more than it did on the desktop. That's good news for the company, because that's where the money is these days.
As we look at the stock ticker, investors seem to be taking a wait-and-see pose with Facebook (FB) shares. The stock slumped immediately after the earning report was released, but is holding steady, and we're still waiting for the conference call with CEO Mark Zuckerberg.
For now, we know: Monthly active users up 25% from a year ago. $1.58 billion in revenues over the last quarter; both of those numbers are ahead of Wall Street estimates.
Keep in mind Facebook shares soared ahead of the earnings. It's coming back quickly after hours following the initial selloff.
Scott is on Facebook, and Twitter: @scottbudman
