Investing.com - Facebook (NASDAQ:FB) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Facebook announced earnings per share of $2.56 on revenue of $21.08B. Analysts polled by Investing.com anticipated EPS of $2.52 on revenue of $20.88B. That with comparison to EPS of $2.38 on revenue of $16.91B in the same period a year before.Facebook had reported EPS of $2.12 on revenue of $17.65B in the previous quarter.Analysts are expecting EPS of $1.95 and revenue of $18.6B in the upcoming quarter.
Facebook shares are up 8% from the beginning of the year and are trading at $207.56 , down-from-52-week-high.They are outperforming the Nasdaq which is up 2.61% year to date.
Facebook shares lost 7.04% in after-hours trade after the report.
Facebook follows other major Technology sector earnings this month
Facebook's report follows an earnings beat by Apple on Tuesday, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.38B.
IBM had beat expectations on Tuesday, January 21, 2020 with fourth quarter EPS of $4.71 on revenue of $21.78B, compared to forecast for EPS of $4.69 on revenue of $21.64B.
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