The "Fast Money" traders were bullish on Facebook following a stellar earnings report.
On Wednesday, Facebook reported fourth-quarter earnings of $1.41 a share on $8.81 billion in revenue. Those figures topped analyst expectations for earnings of $1.31 a share on revenue of $8.51 billion, according to Thomson Reuters consensus estimates.
Following those results, the stock broke through its all-time intraday high in after-hours trading, briefly touching $137.25 a share.
Trader Pete Najarian said that mobile continues to be the growth area for Facebook.
"Clearly, they're killing it right now in mobile," said Najarian, who owns calls in Facebook.
The social media giant said that 84 percent of its advertising revenue was based on mobile. Going forward, Najarian said he wants to see better monetization in Facebook's other properties like WhatsApp, Messenger and Instagram.
Trader Dan Nathan agreed, saying that monetization for those other properties will be key.
While Facebook stock may seem expensive on the surface, trader Karen Finerman, a Facebook shareholder, said that it isn't once investors factor in the company's growth.
"These numbers are phenomenal and they have been for a while," she said.
Finerman said, however, she wouldn't buy the stock here, but she wouldn't sell it either. Trader Guy Adami agreed and said shareholders should probably hang onto the stock.
Disclosures:
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
Karen Finerman is long AAL, BAC, BAC short calls, C, DAL, FB, FL, GLMP,, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, TACO, UAL, WIFI call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, WIFI. Her firm is short IWM, MDY. inerman is on the board of GrafTech International.
Pete Najarian owns calls: AMJ, AKS, BVN, BZH, C, CCC, CHK, CLF,CRM, ETP, FCX, FB, GILD, HRL,IBN, INTC, JBLU, HUM, KORS, KMB,, MRVL, MTW, NEM, PAA, RIO, TGT, UNP, WFT, WLL WMGI, GLD,SLV, UUP, POT, ZIOP. He is long stock: AAPL, BAC, BLL, DIS, DISCA, GE,GILD, GM,HAIN, HD, HUM, INTC, JWN, KMI, KMI.A, KO,KORS, LUX, MOS, MRK, MRVL, PEP, PFE, XLNX. Najarian owns puts: PJC
Dan Nathan is long MCD Feb puts, XLI Feb put spread, FXI Feb put spread.