Facebook Down 3% After Q4 Earnings Results

Facebook

released its fourth quarter earnings results on Wednesday after the closing bell. Ahead of the report, the stock rose around 1.50 percent to $31.24. In the wake of the results, FB was last trading down around 3 percent to $30.42. The company reported net income of $64 million or $0.03 per share, compared to $302 million or $0.14 per share in last year's corresponding quarter. On an adjusted basis, which is comparable to analysts' consensus, Facebook earned $426 million or $0.17 per share, versus $360 million or $0.15 per share, in last year's corresponding quarter. Revenue in the period was up 40 percent to $1.59 billion from $1.13 billion last year. Both figures came in ahead of Wall Street analysts' consensus earnings estimates of $0.15 on revenue of $1.53 billion. Year-to-date, FB is already up more than 17 percent and the stock has climbed almost 35 percent over the last six months.