Facebook shares surge after profit more than doubles

Interestingly, Facebook didn’t attribute its growth to a single source during the company’s recent investor’s call, though, the social network’s positive financials are likely related to the company’s rapidly growing mobile foothold.

Facebook said 1.59 billion people come to the social network at least once a month, up from 1.55 billion people in the third quarter.

This will come as no surprise given that Facebook had 1.44 billion monthly users on mobile devices in December 2015, an increase of 21 percent year on year.

The company clocked revenue of $5.84 billion for the quarter ending December 2015 earning 79 cents per share.

Its profits for the final three months of 2015 rose to $1.56 billion, up from $701 million.

It’s also because the increase in mobile and video views led to Facebook shares rising nearly 12 percent in after-hours trading to $105.32. Our community continued to grow and our business is thriving.

Elsewhere, Facebook continues initiatives to expand the capabilities of its Messenger app, which now has more than 800 million monthly active users as it increasingly mimics the Swiss Army Knife functionality of China’s WeChat app. “But it’s important to consider not just our business results but also how we’re improving the lives of people and communities around the world”.

Chief Financial Officer David Wehner talked to analysts on call that he anticipated operating expenses to increase by 30 to 40% over the course of the year, a dawdling clip than last year.

It was a good year for Facebook and for its CEO Mark Zuckerberg in that unlike some Silicon Valley giants and the startups that are receiving billion-dollar valuations, his technology company can actually generate profits.

Facebook opened Thursday trading up $13.29, or 14.1%, from Wednesday’s close, at $107.74 US, within a 52-week trading range of $72.00 to $110.65 U.S.

According to CNBC, Facebook posted record for both revenue and earnings in the fourth quarter. The most popular reason being the fact that users are spending more time on Facebook due to them watching video on the site.

“And every day, hundreds of millions of people just used Facebook to connect with loved ones”.