Facebook posts higher 4Q earnings

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FILE – This March 29, 2018 file photo, shows the logo for social media giant Facebook at the Nasdaq MarketSite in New York’s Times Square. Britain’s competition watchdog signalled on Wednesday Dec. 18, 2019, its willingness to push for stricter rules to counter Google and Facebook ‘s dominance of online advertising. (AP Photo/Richard Drew, File)

San Francisco (AP) – Facebook’s profit and revenue for the final quarter of the year handily surpassed Wall Street’s expectations, despite challenges the social network is facing around regulation and efforts to fight election interference. Facebook says it earned $7.35 billion, or $2.56 per share in the last three months of the year. That’s up 7% percent from $6.88 billion, or $2.38 per share, a year earlier. Facebook’s stock dropped more than 6% in after-hours trading after the results came out, even though the numbers were better than expected.

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