Facebook's revenue jumped 54 per cent in 2016

Chart of the day: Facebook shares gain ahead of earnings results

Facebook (NASDAQ:FB) is scheduled to report its fourth quarter results on Wednesday, February 1st. Analysts had been expecting earnings of $1.30 per share on $8.51 billion in revenue.

Q4 revenues were $8.8bn, up from $5.8bn a year ago.

Facebook said daily active users climbed 18%, to 1.23 billion, in December 2016, versus the year-ago period. Total monthly active users grew 17% year-over-year to 1.86 billion, from the same period a year earlier.

As mobile eats the world, Facebook is making a meal out of mobile advertising.

Facebook announced its earnings for the fourth quarter and full year 2016 today.

'Our business did well in 2016, but we have a lot of work ahead to help bring people together, ' Facebook co-founder and chief executive Mark Zuckerberg said in a statement released along with the earnings figures. Most recently, it is looking at creating a video app for television set-top boxes such as Apple TV, according to The Wall Street Journal.

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Usage was up on Facebook during the fourth quarter of 2016.

Facebook's VP of messaging products, David Marcus, highlighted at the TechCrunch Disrupt event in September past year that "native" payments could help monetize Messenger going forward.

But some investors are wondering how long Facebook can keep up its pace of growth.

Shares of Facebook closed Wednesday up 2.2% at $133.23, with a consensus analyst price target of $ and a 52-week trading range of $ to $. Daily active users (DAU) reached 1.23 billion, an increase of 18 percent over the same time previous year. The stock further, gained $2.70 or 2.03% in the after-hours trading.

Facebook has been adding features to attract more users and retain those already on the network, with a feature to tackle fake news posts being the most recent addition, after the criticism that followed the US election on November 8.

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