Elaine Low Senior TV WriterFacebook beat forecasts on both the top and bottom line when the social media giant reported fourth-quarter and full-year earnings after the close on Wednesday, but shares are sliding in extended trade.Wall Street analysts had expected per-share earnings of $3.22 on revenue of $26.43 billion — Facebook delivered $3.88 a share in earnings on $28.07 billion in revenue.The company also reported average daily active users of 1.84 billion and average monthly active users of 2.8 billion.“We believe our business has benefited from two broad economic trends playing out during the pandemic,” said Facebook CFO David Wehner in a statement. “The first is the ongoing shift towards online commerce.
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