Facebook revenue jumps 47 percent on soaring mobile ad sales

(Reuters) – Facebook Inc (FB.O) reported a 47 percent jump in quarterly revenue on Wednesday, as the social media company’s mobile ad business got a boost from its focus on videos and improved targeting.

Total advertising revenue was $12.78 billion in the fourth quarter ended Dec. 31, compared with analysts’ estimate of $12.30 billion, according to Thomson Reuters I/B/E/S.

Mobile ad revenue accounted for 89 percent of the total ad sales, up from 84 percent a year earlier.

Facebook said about 2.13 billion people were using its service monthly as of Dec. 31, up 14 percent from a year earlier.

The results come at a time when Facebook has warned about a likely hit to user engagement in the near term from attempts to tweak its flagship News Feed feature.

Net income attributable to Facebook shareholders rose to $4.27 billion, or $1.44 per share, from $3.56 billion, or $1.21 per share, a year earlier.

Total quarterly revenue rose 47 percent to $12.97 billion, while full-year revenue was also up 47 percent at $40.65 billion.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva

News Reporter
The best platform which covers International News, News Today, World News, Sports News, Travel News, Technology News, Fashion News, business News, News about Bitcoin and Health News.

Leave a Reply