Facebook profit beats Wall Street, shares jump after hours
Updated : January 31, 2019 06:40 AM IST
The world's largest online social media network has pledged to invest heavily in the privacy and security of its users after scandals over improperly shared data and propaganda hurt its image and made it the target of political scrutiny across the globe.
Wednesday's better-than-expected profit reassured investors that the company could keep growing, even after posting its slowest quarterly revenue growth in more than six years as a public company.
Facebook shares rose nearly 12 percent to $168.20 after the bell. They closed up 4.3 percent in regular trading.
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