for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Facebook beats quarterly revenue expectations

Jan 27 (Reuters) - 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. (Reporting by Chavi Mehta in Bengaluru and Katie Paul in San Fransisco; Editing by Sriraj Kalluvila)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up