Business

Facebook 4Q earnings, revenue grow sharply

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NEW YORK — Facebook’s quarterly earnings and revenue grew and surpassed expectations as the company expanded the number of users and the amount of money it makes on mobile ads.

Facebook Inc. 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, ahead of analysts’ estimates by 4 cents.

Revenue grew 63 percent to $2.59 billion, from $1.59 billion. Analysts had expected average revenue of $2.35 billion, according to FactSet.

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