There have been scandals, controversies, and overall rough times, but analysts agree on one thing: Facebook (NASDAQ:FB) keeps growing with no sign of slowing down.
Analysts also agree that by all metrics, the company exceeded expectations posting strong fourth-quarter numbers after the bell on Wednesday.
Analysts pointed out that advertisers continue to spend money on the platform with record user growth and revenue still increasing and maybe things aren’t as bad as feared. Facebook CEO Mark Zuckerberg said on the call that, "We’ve started to turn a corner and have a clear plan for what we need to do now."
Year-end total revenue came in at $55.8 million, a 37% improvement over the $40.6 million figure last fiscal year.
Analysts were even more blown away by the net income figures: $22.1 million, compared to $15.9 million, a jump of 39%.
Moreover, daily active users numbered 1.52 billion on average for December 2018, an increase of 9% year-over-year. Monthly active users were 2.32 billion as of December 31, 2018, an increase of 9% year-over-year. Mobile advertising revenue represented approximately 93% of advertising revenue for the fourth quarter of 2018, up from approximately 89% of advertising revenue in the fourth quarter of 2017.
Zuckerberg expounded, "Our community and business continue to grow. We've fundamentally changed how we run our company to focus on the biggest social issues, and we're investing more to build new and inspiring ways for people to connect."
Shares in the social media giant vaulted $15.52, or 10.3%, in the first hour of Thursday’s session to $165.94
