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Facebook Inc. (FB) Is Falling On Zuckerberg Comments

Facebook Inc. (FB) reported fourth quarter EPS of $1.44 after the bell Wednesday, up from $1.21 last year. Fourth quarter results were impacted by the US tax reforms which increased its provision for income taxes by $2.27 billion, impacting earnings by $0.77 per share.

Mark Zuckerberg, Facebook founder and CEO said, "Already last quarter, we made changes to show fewer viral videos to make sure people's time is well spent. In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day. By focusing on meaningful connections, our community and business will be stronger over the long term."

Facebook gapped up at the open Wednesday, but pulled back around mid-afternoon. The stock closed down by 0.23 at $186.89. Facebook is now down 7.90 on 5 million shares after the bell.

by RTT Staff Writer

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