Facebook Earnings Beat Estimates As Mobile Rises
Facebook has released its Q4 and 2012 yearly earnings, beating analyst revenue estimates and seeing massive gains in its mobile advertising business.
The social media giant posted $1.59 billion in revenue for the quarter, beating Wall Street’s estimate of $1.53 billion and representing a 40 percent increase on a year-to-year basis. Those numbers work out to a gain of 0.17 cents per share for Facebook stockholders.
The biggest news from Facebook’s release comes from its mobile stats, which now accounts for 23 percent of its total ad revenue, which equaled $1.33 billion. Estimates figured mobile would account for closer to 17 percent after coming in at 14 percent in Q3.
Facebook also noted the growth of Facebook Offers since it launched last year — saying that offers have been claimed by 42 million unique users. Last quarter, Facebook COO Sheryl Sandberg said that 100,000 small- and medium-sized businesses have used the Offers platform.