Our business did well in 2016, but we have a lot of work ahead to help bring people together.
Investors appeared to brush off some bad news: Facebook lost a lawsuit that claimed Oculus executives used technology from game company ZeniMax, and has been ordered to pay $500 million.
In earnings which topped most forecasts, Facebook said it made a net profit of $3.7 billion on revenue of $8.6 billion in the fourth quarter, as compared with profit of $1.6 billion on $5.6 billion in revenue in the same period a year earlier.
Mobile ads account for 84% of the social network's advertising revenue. Last week, Google parent Alphabet Inc. reported better-than-expected fourth-quarter sales, and while a profit shortfall disappointed investors initially, analysts said Google's own mobile and video ad growth is accelerating. The company warned when it reported third quarter earnings that expenses in 2017 will increase "meaningfully" and that "ad load", the volume of ads the company can show users, will become a less significant revenue growth factor into this year. Meanwhile, it had adjusted quarterly earnings of $1.41 per share.
Since the USA election in November, Facebook has come under intense scrutiny for its role in the distribution of fake news during the campaign cycle.
Raiders to officially host Patriots in Mexico City in 2017 National Football League season
Goodell said Wednesday the league is looking into playing the 2017 game in Mexico City on a Sunday rather than Monday night. Raiders. "I don't see an ownership position in a team from a casino", Goodell said.
Facebook noted that daily active users (DAUs) were 1.23 billion on average for December 2016. that number was up 18% from the year-ago period, and above recent estimates for 1.20 billion. That included 1.15 billion users over mobile devices, up 23 percent.
Facebook invested United States dollars 4.49 billion in capital equipment previous year, up from USD 2.52 billion in 2015, and ended 2016 with total cash of USD 29.45 billion.
As of Wednesday's close, Facebook Inc. shares had increased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 2 percent.
Facebook boss Mark Zuckerberg.