collected by :Roy Mark
The social network still hopes to get into China, where the service is not allowed.
The lawsuit claimed Oculus founder Palmer Luckey and his colleagues developed the virtual reality gear using source code illegally obtained from the gaming firm.
Meanwhile, the number of people using the leading social network monthly increased 17 per cent to 1.86 billion.
Company priorities include data centers, virtual reality, search and artificial intelligence.
Facebook acquired Oculus in 2014 for more than $2 billion and last year began selling the Rift headsets as part of the social network’s push into virtual reality.
“That’s just massive earnings growth,” Danielle Hughes, CEO of Facebook-shareholder Divine Capital, told CNBC’s “Closing Bell” on Wednesday.
“I think the real attractive thing about Facebook is it’s got a multi-layer revenue growth story,” Michael Graham, managing director and senior equity analyst at Canaccord Genuity, told CNBC’s “Closing Bell.”
Facebook shares rose as much as 3 percent after hours, but were last up less than 1.5 percent.
Earnings were up from 79 cents per share on $5.84 billion in revenue in the year-earlier period.
Only Google rivals Facebook when it comes to digital advertising dominance.