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Facebook reports Q4 financial earnings, revenue up, profit down

Facebook reports Q4 2012 financial results, revenue up, profit down

By Trace Hagan on Jan 30, 2013 06:33 pm CST - 0 mins, 45 secs reading time

Facebook reported their fourth quarter financial results today. For the fourth quarter, Facebook saw increased revenues, yet experienced decreased profits. Part of the reason profits were down is the amount of investing that Facebook is doing to build an empire and plan for the long-run.

Facebook reports Q4 financial earnings, revenue up, profit down | TweakTown.com

Revenue was up to $1.59 billion, a 40 percent increase from last year. Wall Street estimates had placed revenue at $1.52 billion, so Facebook performed better-than-expected. Revenue, however, was down 79 percent from last year as a result of increased investment spending.

"2012 was a big year for us," said Mark Zuckerberg, Facebook founder and CEO on Wednesday's earnings call with analysts and journalists. "There are now more people using Facebook on mobile every day than on desktop."

Facebook's monthly active users climbed to 1.06 billion by the end of 2012. Facebook drew in an average of 618 million daily active users in December 2012. Costs and expenses were up 82 percent from Q4 2011 to $1.06 billion.

Trace Hagan

ABOUT THE AUTHOR - Trace Hagan

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

NEWS SOURCE:readwrite.com

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