Facebook (FB) Plunges, Then Recovers after Q4 Results

January 30, 2013 5:09 PM EST
Facebook (NASDAQ: FB) shares were whipsawed after-hours Wednesday following fourth quarter results that beat on both the top and bottom-line. Despite the beat, shares immediately fell over 9 percent only to recover losses moments later as investors turned their focus to strong mobile results.

Facebook said mobile revenue represented approximately 23% of advertising revenue for the fourth quarter, up from approximately 14% of advertising revenue in the third quarter.

Total revenue in the quarter was $1.585 billion, up 40 percent from last year. Revenue from advertising was $1.33 billion, representing 84% of total revenue and a 41% increase from the same quarter last year.

Non-GAAP EPS was $0.17, up from $0.15 last year. The number also beat the consensus, which was also $0.15.

"In 2012, we connected over a billion people and became a mobile company," said Mark Zuckerberg, Facebook founder and CEO. "We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company."

Shares of Facbook last traded at $30.64, down 1.9 percent.

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