Facebook eats mobile: Q4 revenues are all about cellular

1 Feb 2017

While business is good, Facebook CEO Mark Zuckerberg wants to stay on a mission to connect the planet. Image: Fotos593/Shutterstock

Facebook finished the year with revenues of $27.6bn. But while business is booming, CEO Mark Zuckerberg wants the social media giant to stay on course.

Business is booming at Facebook, which saw revenues grow 54pc to $27.6bn in 2016, up from $17.9bn a year ago.

Q4 revenues were $8.8bn, up from $5.8bn in 2015.

‘Our mission to connect the world is more important now than ever’

The social media empire, which has over 1.8bn monthly users worldwide, reported a full-year profit of $10.2bn and a fourth-quarterly profit of $3.5bn.

Capital expenditure for the full year was $4.4bn.

Facebook reported that there were 1.2bn daily users on average, up 18pc year-on-year.

Facebook wants to mobilise the planet

Facebook saw 1.1bn daily mobile users on average, up 23pc year-on-year.

The company said that mobile represented 84pc of advertising revenue for the fourth quarter, up from 80pc a year ago.

The social media giant had cash and assets worth $29.4bn at the end of Q4.

Despite the business success, CEO Mark Zuckerberg pointed out that Facebook is on a mission to change the world.

“Our mission to connect the world is more important now than ever,” said Mark Zuckerberg, Facebook founder and CEO.

“Our business did well in 2016, but we have a lot of work ahead to help bring people together.”

Mark Zuckerberg profile. Image: Fotos593/Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years