Facebook income, revenue up in 4Q

By Ovunc Kutlu

NEW YORK (AA) – Facebook’s net income and revenue increased in the fourth quarter of 2016, the company announced in a statement Wednesday.

Net income soared 129 percent to $3.57 billion in the October-December period. That was up from $1.56 billion the same period a year ago.

Total revenue increased 51 percent to $8.81 billion, from $5.84 billion, during the same period.

Revenue from advertising also saw a 53 percent rise to reach $8.63 billion, from $5.64 billion.

"Mobile advertising revenue represented approximately 84 percent of advertising revenue for the fourth quarter of 2016," the statement noted.

The company continued to see increase in its active users.

Daily active users were 1.23 billion on average for December 2016, rising 18 percent year-over-year; while 1.15 billion of those users connected to Facebook on mobile devices.

Monthly active users were 1.86 billion as of the end of last year, increasing 17 percent year-over-year; while 1.74 billion of those were mobile users.

Facebook stock price jumped 2.9 percent to $137.07 in after-hours trading following the release of the earnings report, after finishing the day at $133.23 per share.