Sarah Frier reports:
Facebook Inc. reported revenue that beat Wall Street estimates as advertisers stuck with the social media company through a series of privacy scandals.
The company said fourth-quarter sales were $16.91 billion, ahead of the $16.4 billion analysts expected, with earnings topping expectations. The results sparked a share surge of more than 11 percent in pre-market trading in New York, poised to hit their highest level since late September.
Facebook’s audience grew, bolstering its ability to collect data from users that can lure advertisers.
Read more on Bloomberg.