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Not anymore. Benefiting again from a continued surge in mobile advertising, Facebook today said fourth-quarter net earnings jumped more than eightfold from a year ago on a 63% rise in sales, to $2.6 billion.
The social network said mobile ad revenues constituted 53% of overall ad sales, up from just 23% a year ago and 49% in the third quarter. Facebook’s May 2012 initial public offering was marred chiefly by investors’ uncertainty that it could make money on mobile ads. But since late last year, they’ve actually driven Facebook’s resurgent revenue growth more than anything else.
The results outpaced analysts’ expectations, and Facebook’s shares rose about 7% in immediate after-hours trading, after falling 3% during the trading day Wednesday. Update 1:45 p.m. Pacific: Shares are now up almost 10% now.
You can listen to the webcast of the call starting at 2 p.m. Pacific, and earnings slides are here. I’ll go over the mostly ad-related highlights below, plus anything else that CEO Mark Zuckerberg has to say beyond boilerplate stuff.
Meantime, the basics:
- And a few highlights provided by Facebook:
- Revenue for the full year 2013 was $7.87 billion, an increase of 55% year-over-year.
- Income from operations for the full year 2013 was $2.80 billion.
- Net income for the full year 2013 was $1.50 billion.
- Free cash flow for the full year of 2013 was $2.85 billion.
- Daily active users (DAUs) were 757 million on average for December 2013, an increase of 22% year-over-year.
- Mobile DAUs were 556 million on average for December 2013, an increase of 49% year-over-year.
- Monthly active users (MAUs) were 1.23 billion as of December 31, 2013, an increase of 16% year-over-year.
- Mobile MAUs were 945 million as of December 31, 2013, an increase of 39% year-over-year.
Coming up: more details after the call begins.