Facebook reveals financial performance for Q4

Park Sae-jin Reporter() | Posted : April 26, 2013, 10:03 | Updated : April 26, 2013, 10:03
Facebook, a social networking giant, saw its revenue reach US$1.59 billion in the fourth quarter of last year, up 40 percent from $1.13 billion a year ago.

Analysts attributed the increase to its mobile ads revenue which more than doubled to $306 million in the October-December period.

Eden Zoller, principal analyst at Ovum, said: "Facebook Q4 2012 results give cause for optimism and suggest the company is on the right track following its disappointing IPO and the lacklustre two quarters that immediately followed.

"What stands out from Facebook’s Q4 results is the centrality of mobile for its service strategy and growth. Revenues from mobile advertising accounted for 23 percent of total advertising revenues compared to 14 percent in the previous quarter, with sponsored stories in the mobile news feed and app install ads proving effective. Wal-Mart alone delivered 50 million mobile ads to customers.

"This solid progress on the mobile advertising front should be applauded as a key challenge for Facebook has been how to monetize its growing mobile user base, particularly as an increasing number interact with the platform by only via mobile devices."

By Keat Min Woo
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