Profit surged from the last quarter of 2012, up to $523m (£318m) from $64m. For the year, profits are more than 30 times as high as they were in 2012, ballooning from $53m to $1.5bn. Advertising revenue has surged by 76 per cent from the same period last year. More than half came from mobile devices compared to just 23 per cent a year ago. In total, the website generated over $1bn from mobile advertising.
Two years ago, Facebook had no revenue from mobile advertising sales. “2012 was the year we turned out core product into a mobile product, 2013 was the year we turned our business into a mobile business,” said founder Mark Zuckerberg.
He added “This is a great quarter and a great way to end the year”.
Overall, Facebook said it had 757m daily global users as of December 2013, up 22 per cent year-on-year.
The firm struggled with its public flotation in May 2012, and did not return to its initial offering price for over a year afterwards. Facebook’s share price rocketed 10 per cent, up to $58.90 in after hours trading last night.