Wednesday
April
23
2014
12:06 am
Weather
  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 

Check out our archive of Dining Guides - Yum!

Facebook 4Q earnings, revenue up sharply
January 30, 2014, 05:00 AM By Barbara Ortutay The Associated

NEW YORK — Mobile advertising accounted for more than half of Facebook’s total ad revenue in the final quarter of last year, a sign that the social network born a decade ago in the desktop computer era is succeeding in its goal of being “mobile first.”

Facebook’s earnings and revenue handily surpassed Wall Street’s expectations for the third quarter in a row as it further expands the number of users and the amount of money it makes on mobile ads.

“If 2012 was the year where we turned our core product into a mobile product, then 2013 was the year we where we turned our business into a mobile business,” CEO Mark Zuckerberg said in a conference call with analysts. “I expect 2014 will be the year where we begin to deliver new and engaging types of mobile experiences.”

Facebook Inc. said Wednesday that it earned $523 million, or 20 cents per share, in the October-December quarter. That’s up from $64 million, or 3 cents per share, a year earlier. Adjusted earnings were $780 million, or 31 cents per share, in the latest quarter, 4 cents ahead of analysts’ estimates.

Revenue grew 63 percent to $2.59 billion, from $1.59 billion. Analysts, on average, had expected revenue of $2.35 billion, according to FactSet.

Facebook’s stock soared 12 percent in extended trading after the results came out.

Facebook Inc., which turns 10 years old next week, had 1.23 billion monthly users worldwide at the end of 2013. Of those, 757 million signed in at least once a day, up 22 percent from a year earlier.

Monthly mobile users stood at 945 million, up 39 percent. Daily mobile users grew 49 percent to 556 million.

Fifty-three percent of Facebook’s ad revenue came from mobile during the quarter, up from 49 percent in the third quarter.

Facebook continues to grow its share of the worldwide digital advertising and within that, mobile advertising market. It reaped nearly 6 percent of the world’s digital ad revenue in 2013, up from 4 percent in 2012, according to research firm eMarketer. Online search leader Google, meanwhile, accounted for a 32 percent share of the market in 2013.

When it comes to mobile ad spending, Facebook accounted for an 18 percent share of the total amount companies spent in 2013, according to eMarketer. That’s up from 5 percent a year earlier.

Facebook’s stock jumped $6.41 to $59.94 in extended trading. The stock had closed the regular trading session down $1.61, or 3 percent, at $53.53 before the earnings announcement.

Through Wednesday’s close, the stock had gained 51 percent in the past six months, far more than the 6.4 percent increase for the Standard & Poor’s 500 index, which the Menlo Park, Calif., company recently joined.

 

 

Tags: percent, mobile, revenue, quarter, million, share,


Other stories from today:

A guide to Obama’s plan for retirement savings
Facebook 4Q earnings, revenue up sharply
Lifting the minimum wage big deal for small firms
 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
What do you think of the Warriors' proposal to move to Mission Bay?

Smart, a better location
Still like the waterfront arena concept
Wish they would stay in Oakland
Anywhere in San Francisco is good
How about the Burlingame waterfront?

 

 
Tabbed Structure - Regular
 
 
 
 
 
Warriors formally announce plans for new arena in Mission Bay
The Golden State Warriors today formally announced their plans to build a new arena in San Francisco..
Biden: Russia must 'stop talking and start acting'
KIEV, Ukraine — U.S. Vice President Joe Biden warned Russia on Tuesday that "it's time to stop tal..
High court upholds Michigan affirmative action ban
WASHINGTON — The Supreme Court on Tuesday upheld Michigan's ban on using race as a factor in colle..
More >>  
 
 
  
 
  
 
©2014 San Mateo Daily Journal
San Mateo County events