Facebook: 4Q Earnings Snapshot

MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported fourth-quarter net income of $6.88 billion.The Menlo Park, California-based company said it had net income of $2.38 per share.The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.The social media company posted revenue of $16.91 billion in the period, which also topped Street forecasts. Thirteen analysts surveyed by Zacks expected $16.37 billion.Facebook shares have risen 14 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 per cent. In the final minutes of trading on Wednesday, shares hit $150.09, a decrease of 20 per cent in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FBThe Associated Press read more