Social network Facebook has reported Q4 revenues of US$2.9bn, profits of US$523m, and that 53pc of its revenue now comes from mobile advertising. For the full year, Facebook reported revenues of US$1.5bn and a profit of US$1.5bn.
The nearly 10-year-old company revealed it now earns 53pc of ad revenue – US$1.37bn – from the small screen, making it the social network’s first US$1bn-plus quarter from mobile.
The company earned US$241m in revenues from other income streams, like payments, apps and games.
Facebook, which is in the process of moving to a new building in Dublin capable of facilitating 1,000 people, said capital expenditure in the fourth quarter was US$483m.
The performance is quite a turnaround for Facebook, when you consider that when it went public with its IPO in May 2012, about zero revenues came from mobile advertising.
“It was a great end to the year for Facebook,” said Mark Zuckerberg, Facebook co-founder and CEO.
“We’re looking forward to our next decade and to helping connect the rest of the world.”