NEW YORK (AP) - Facebook says its earnings and revenue continued to grow in the latest quarter, surpassing Wall Street's expectations on both fronts as it expanded the number of users and the amount of money it makes on mobile ads.
The Menlo Park, Calif.-based social networking company earned $523 million, or 20 cents per share, in the October-December quarter. That's up $64 million, or 3 cents per share, a year earlier. Adjusted earnings were $780 million, or 31 cents per share, in the latest quarter.
Revenue grew 63 percent to $2.59 billion, from $1.59 billion.
FactSet says analysts, on average, had expected earnings of 27 cents per share on revenue of $2.35 billion.
Facebook Inc., which turns 10 years old next week, had 1.23 billion monthly users worldwide at the end of 2013.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)