For the final quarter of 2016, Facebook reported a 51% increase on last year's numbers to bring in $8.8 billion in revenue and $3.56 billion in profit.
Facebook reported fourth quarter earnings ending December 31, 2016 and reported a record 1.86 billion active monthly users, up 17% year-over-year.
"We're experimenting with Live 360 video, audio-only live for people with slower connections, and live face masks and more camera effects, and we'll have more updates soon", said Zuckerberg in an earnings call transcribed by Seeking Alpha.
The number of daily active users grew by 18 percent year over year to reach 1.23 billion, up from 1.18 billion last quarter.
Investors will also be pleased to learn that Facebook's monthly average users accelerated 17 per cent on an annual basis to 1.86 billion, marking the fastest pace of growth since the third quarter of 2013.
Facebook's shares reached record levels, after gaining as much as 3 percent increase in after-hours trading February 1.
Mobile advertising represented approximately 84% of ad revenue during the quarter, up from 80% a year ago.
Facebook had a great revenue for Q4 2016, earning $8.81 billion in total and $1.41 EPS.
While Facebook predominately battled fake news and misinformation on the social network, the social media company beat fourth-quarter earnings beat analysts expectations.
Facebook headquarters in Menlo Park.
However, many analysts have raised concerns about Facebook's ability to meet its own targets it sets every quarter.
The company continued to see increase in its active users.
In after-hours trading on Wednesday, Facebook shares, on the strength of the robust fourth-quarter results, gained another 3 percent, past $137, before easing. Mobile ad revenues grew both because of an increase in frequency of ads shown in News Feed and the price per ad.
Facebook Inc. operates a social networking website worldwide.
Our biggest focus continues to be putting video first across our family of apps. That rise comes even after a report dropped just minutes before the release that Facebook will have to hand over $500 million after a jury found Facebook's Oculus co-founder Palmer Luckey guilty of violating a non-disclosure agreement.