Facebook smashes Street's highest estimates on revs and EPS


Facebook easily topped Wall Street's most optimistic estimates for both revenue and earnings in the fourth quarter, the company announced Wednesday.

The social media giant reported that it earned 79 cents per share on $5.84 billion in revenue in the quarter. The highest estimates on the Street had called for earnings of 75 cents and revenue of $5.67 billion, according to data from Thomson Reuters.

On average, analysts had expected Facebook to report fourth-quarter earnings of about 68 cents a share on $5.37 billion in revenue, according to Thomson Reuters.

"2015 was a great year for Facebook. Our community continued to grow and our business is thriving," Mark Zuckerberg, Facebook founder and CEO, said in the company's earnings release.