Facebook Profit Surges On Ad Revenues; Stock Up 7% - Quick Facts

(RTTNews) - Social networking site Facebook Inc. (FB) Wednesday reported fourth-quarter net income to shareholders of $520 million or $0.20 per share compared with $64 million or $0.03 per share last year.

Excluding items, adjusted earnings for the quarter were $780 million or $0.31 per share compared with $426 million or $0.17 per share a year ago.

Revenues for the quarter were up 63% at $2.59 billion compared with $1.59 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.27 per share on revenues of $2.33 billion for the quarter.

"It was a great end to the year for Facebook," said CEO Mark Zuckerberg. "We're looking forward to our next decade and to helping connect the rest of the world."

Results were also buttressed by operating margin that climbed to 44% from 33% a year ago.