Facebook eases past Wall Street estimates, sees spending up in 2017

Facebook 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 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.

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