Facebook revenues leap 63% in Q4 driven by solid mobile ad business
Facebook has beaten analysts' expectations by reporting a 63% surge in revenues for the fourth quarter, driven by a solid mobile advertising business.
Facebook: mobile ad business drives revenue leap
Facebook, which turns 10 next week, has posted record revenues of $2.59bn for the three months to 31 December, with a 76% increase in advertising on the same period last year.
The social network said mobile advertising revenue accounted for 53% of ad revenue for the quarter, up 23% year on year.
Facebook's shares rose more than 7% in after-hours trading, a marked difference on Yahoo, whose results disappointed investors this week.
Full year revenues jumped 55% to $7.87bn and founder Mark Zuckerberg claimed the results were "a great end to the year for Facebook".
He said: "We're looking forward to our next decade and helping to connect the rest of the world."
Facebook said it now has 1.23 billion monthly active users, an increase of 16% year on year. The increase of monthly active users for the quarter was only 3.4% however, which could signal a slowing of growth for the company's user base.
The company accounted for a 5.7% share in all global digital ad revenues last year, and increase from 4.11% in 2012, according to eMarketer, while accounting for 18.44% share of worldwide mobile ad spending in 2013, up from 5.35% in the previous year.
This article was first published on marketingmagazine.co.uk
Latest jobs Jobs web feed
- Marketing Manager Fidelity Worldwide Investment Dependent on Experience, Surrey
- Marketing & Communications Executive AF Selection Up to £25,000, Derbyshire
- Brand Manager Ball & Hoolahan £40,000 + Car/ Car Allowance, South East England
- Senior Designer Gabriele Skelton Ã‚£40000 per annum, City of London
- Creative Director, PR Agency, London Office + Great Benefits Fleishman-Hillard Up to £100,000, dep on experience, London (Central), London (Greater)
- ACCOUNT DIRECTORS - Integrated/ATL/TTL/BTL/SP/Shopper/Retail - London - up to £50k Judi Patton £40k-£50k plus excellent benefits, London (Central), London (Greater)