Facebook quarterly profit, revenue beat estimates

Jan 30 (Reuters) - Facebook Inc topped analysts’ estimates for quarterly revenue and profit on Wednesday, helped by growth in its Instagram business and a steady rise in advertising spending by companies.

Monthly active users rose to 2.32 billion, in line with estimates, according to IBES data from Refinitiv.

Net income attributable to Facebook shareholders rose to $6.88 billion, or $2.38 per share, in the fourth quarter ended December 31, from $4.27 billion, or $1.44 per share, a year earlier.

Total revenue rose to $16.91 billion from $12.97 billion. Analysts were expecting revenue of $16.39 billion and profit of $2.19 per share.

Reporting by Munsif Vengattil in Bengaluru and Katie Paul in San Francisco; Editing by Arun Koyyur