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 Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter