Facebook’s revenue growth is slowing, but not nearly as much as Wall Street expected

Facebook may be running out of places to show users ads, but that doesn’t appear to be hurting the company with investors just yet.

Facebook reported Q4 earnings on Wednesday, once again surpassing Wall Street expectations. The social giant reported profits of $1.41 per share on revenue of $8.81 billion. Analysts were expecting profit of $1.31 a share on sales of $8.51 billion.

That means Facebook revenue grew almost 52 percent over the same period last year. But in the previous quarter, Facebook reported a 55 percent year-over-year growth while Q2 saw a 59 percent annual rise, so growth has been slowing.

Interesting to note: Facebook says that 84 percent of all its ad revenue — roughly $7.25 billion — comes from mobile advertising. That’s the same percentage of that came from mobile in Q3, the first time that Facebook’s mobile ad share hasn’t increased since the company started selling mobile advertising.

Facebook now has 1.86 billion monthly active users, up 70 million in the past three months. The company also claims 1.23 billion daily active users, up from 1.18 billion last quarter.

Facebook stock was up more than 2 percent on the day ahead of earnings. It’s now up 3 percent in early after-hours trading.

This story is developing.

This article originally appeared on Recode.net.