Shares of Facebook (NASDAQ:FB) dipped in late afternoon trading. The world’s largest social media company reported financial results for the fourth quarter. Net income came in at $64 million (3 cents per share), compared to $302 million (14 cents per share) a year earlier.
Excluding certain items, earnings came in at 17 cents per share, up from 15 cents per share. Revenue surged 40 percent to $1.59 billion. Zynga (NASDAQ:ZNGA) shares gained 1.6 percent.