Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Facebook surges on record quarterly results

Facebook surges on record quarterly results

Facebook delivered record quarterly results as mobile revenues surged, helping the company to close the year with a $1.5 billion profit.

The social network saw revenues of $2.59 billion in the fourth quarter, up 63% year-on-year. The strong year contributed to full year revenues of $7.87 billion, which was a 55% increase on 2012. Its share price surged by 7.5% on the news and is now up by over 90% since last summer.

Despite initial concerns about how the company would be able to monetise its user base, particularly those using smart phones, mobile advertising revenue accounted for 53% of it of its £2.34 billion total advertising revenue in Q4. This was up from around 23% in Q3 and equivalent to over 5% of global advertising revenues..

Similarly, concerns about existing users leaving the site have broadly proven unfounded with the site recording 1.23 billion active users in Q4, up 16% year-on-year.

Facebook turns 10 next week with CEO Mark Zuckerburg (pictured) saying that he looked forward to ‘connecting the rest of the world’ over the next decade.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter