NEW YORK -- Facebook's FB fourth-quarter earnings topped Wall Street expectations as revenue jumped 40%.The social-networking giant said Wednesday it earned a non-GAAP 17 cents a share in the quarter on revenue of $1.585 billion in revenue. Revenue from advertising rose 41% to $1.33 billion, making up 84% of total revenue. Mobile revenue represented 23% of advertising revenue in the fourth quarter, up from 14% in the third quarter.Analysts polled by Thomson Reuters were expecting Facebook to earn 15 cents a share on sales of $1.53 billion in the fourth quarter. "In 2012, we connected over a billion people and became a mobile company," said Mark Zuckerberg, Facebook founder and CEO. "We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company."Facebook shares moved lower in extended trading as mobile revenue came in shy of many analysts' lofty estimates. Facebook's CFO: 'We Became a Mobile Company in 2012'
Qualcomm QCOM , the chipmaker, blew past Wall Street's fiscal first-quarter estimates and offered robust second-quarter guidance.The San Diego-based company reported revenue of $6.02 billion, a 29% increase from a year earlier and well above analysts' forecasts of $5.9 billion.Excluding items, Qualcomm earned $1.26 a share, a rise of 30%. Analysts were looking for earnings of $1.13 a share.
Qualcomm is projecting fiscal second-quarter revenue between $5.8 billion and $6.3 billion and earnings between $1.10 a share and $1.18 a share. Analysts forecast revenue of $5.88 billion and earnings of $1.10 a share.Qualcomm's Shares Surge as Business Goes Gangbusters
MasterCard MA is expected by analysts Thursday to report fourth-quarter earnings of $4.82 a share on revenue of $1.89 billion.
Media giant Viacom VIAB is expected by Wall Street to have earned 90 cents a share in the fiscal first quarter on revenue of $3.49 billion.
Citigroup C is looking to pull out of consumer banking in more countries in an effort to lower costs and boost profits, Reuters reported, citing two people familiar with the matter.Citigroup said last month it was withdrawing from consumer banking in five countries -- Pakistan, Paraguay, Romania, Turkey and Uruguay -- as part of a plan to save $1.1 billion a year and eliminate 11,000 jobs, Reuters noted, but "there is more on the list," a source said.
Royal Dutch Shell RDS.A , Europe's largest oil company, said fourth-quarter net earnings rose 2.6% to $6.67 billion, coming in below analysts' expectations.Shell said it would raise its dividend in 2013 to 45 cents a share, a 4.7% boost from the year earlier. The Fear Factor and Royal Dutch Shell
-- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
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