Facebook rides mobile to strong profit

2015-01-30 12:21
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A Facebook User Operations Safety Team worker looks at reviews at Facebook headquarters in Menlo Park. (Paul Sakuma, AP, File)

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San Francisco - Facebook on Wednesday reported that its quarterly profit jumped 33.8% from 2014 to $696m as ad revenue and membership grew at the leading social network.

The California-based internet titan said that revenue in the final quarter of last year hit $3.85bn as the number of active monthly users increased 13% to 1.39 billion.

"We got a lot done in 2014," said Facebook co-founder and chief executive Mark Zuckerberg.

"Our community continues to grow and we're making progress toward connecting the world."

A strong showing in ads served up on smartphones or tablet computers helped Facebook earnings beat analyst forecasts.

Shares sank slightly more than 1% to $75.40 in after-market trades that followed release of the figures.

Facebook saw its first quarter of taking in more than $3bn overall from ads, with about two-thirds of that coming from mobile advertising revenue which soared 69% from the same period a year earlier.

An average of 745 million Facebook members daily used mobile devices to visit the social network in December of last year, the company reported.

Facebook said that its properties Instagram, Messenger and WhatsApp recently topped 300 million, 500 million, and 700 million monthly active users respectively.

For the full year, Facebook's profit nearly doubled to $2.9bn and revenue jumped 58% to $12.8 billion.

Read more about: facebook  |  social networks

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