Facebook shares Surge as Sales, Profit beat Wall Street Estimates

Facebook shares Surge as Sales, Profit beat Wall Street Estimates

Facebook Inc. reported revenue that beat Wall Street estimates as advertisers stuck with the social media company through a series of privacy scandals.

The company said fourth-quarter sales were $16.91 billion, ahead of the $16.4 billion analysts expected. Earnings also topped expectations, sparking a share surge of more than 11 percent in extended trading on Wednesday