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Facebook reports quarterly earnings, user growth despite challenges

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Facebook on Wednesday reported quarterly earnings and user growth that beat expectations, but shares took a hit in after-market trades.

The leading online social network reported its net income rose seven percent from a year ago to $7.3 billion, while revenue increased 25 percent to $21 billion in the final three months of last year.

The number of people using Facebook monthly climbed eight percent to 2.5 billion; for all its apps including Instagram, Messenger, and WhatsApp, the figure was 2.89 billion.

Shares, however, quickly dropped more than six percent.

“We had a good quarter and a strong end to the year as our community and business continue to grow,” said Facebook chief executive Mark Zuckerberg.

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