Facebook posts $1.59 billion in revenue boosted by mobile offerings Stock drops 3.6 percent following earnings report
Facebook posted $1.59 billion in revenue in the fourth quarter on Wednesday, beating analysts' $1.53 billion prediction.
The world's largest social network — with 1.06 billion active monthly users as of Dec. 30 — has been hoping for more revenue from its mobile offerings. It delivered, with mobile revenue representing 23 percent of its ad revenue.
Despite this, Wall Street gave Facebook the same treatment as it did after Apple's most recent quarterly earnings report last week.
Shares of Facebook were down 3.65 percent in after-hours trading to $30.10.
Facebook's earnings call with investors was slated for 2 p.m. PT.