Facebook Inc beat analysts’ estimates for quarterly revenue on Wednesday, powered by increased ad spending by businesses to capitalize on a holiday shopping season driven online by the pandemic.
Total revenue, which comprises primarily of advertising revenue, rose to $28.07 billion in the fourth quarter ended Dec. 31 from $21.08 billion, a year earlier.
Analysts on average estimated quarterly revenue of $26.44 billion, according to IBES data from Refinitiv.
SOURCE: REUTERS
