Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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
1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Your Business: Cover Star Club

Profile: how career burnout led to a family office launch

Profile: how career burnout led to a family office launch

I was burnt-out from a career in finance and had no desire to come back, says the founder of Blu Family Office

Wealth Manager on Twitter