Facebook Q4 revenue rises more than expected
Published on Jan 30, 2014 5:48 AM
SAN FRANCISCO (REUTERS) - Facebook Inc's fourth-quarter revenue jumped 63 per cent, beating Wall Street targets, as the Internet company's mobile ad sales continued to accelerate.
Shares of Facebook were up 7 per cent at US$57.36 (S$73.21) in after-hours trading on Wednesday.
The world's largest social networking company said that revenue from mobile ads represented 53 per cent of its total advertising revenue in the last three months of the year, or US$1.24 billion, versus the 49 per cent proportion that mobile ads represented in the third quarter.
Facebook said it now has 1.23 billion monthly users, with 945 million accessing the service on a smartphone or tablet.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!