Gsbt

6Facebook Inc cruised past Wall Street's earnings and revenue expectations on Wednesday with strong growth in its mobile ad business, demonstrating that controversy over so-called "fake news" and inaccurate advertising measurements had little impact on its financial performance. With quarterly profit of $3.57 billion, more than double the $1.56 billion it reported a year ago, the company showed no signs of slowdown in growth. The results handily beat analysts' expectations, and shares ticked up about 0.2 percent in after-hours trading. The company had warned in November that ad growth would likely slow "meaningfully" due to limits on ad load - the total number of ads Facebook can show to each user. But there was little sign of that in the fourth quarter as total revenue soared to $8.81 billion from $5.84 billion a year ago. "I think the rate of growth will decline, but it will remain very high," said analyst Michael Pachter of Wedbush Securities