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Facebook Q4 revenues rise 40% to USD 1.59 billion

2013-01-31 08:31:00| Telecompaper Headlines

(Telecompaper) Facebook reported 40 percent growth in revenue to USD 1.59 billion in the fourth quarter, compared with USD 1.13 billion in the year-earlier period. Advertising revenues rose by 41 percent to USD 1.33 billion, or 84 percent of turnover. The remaining revenue came from payments and other fees, essentially flat year-on-year. Facebook increased its costs and expenses 82 percent to USD 1.06 billion in the fourth quarter, with capital expenditure at USD 198 million. Net income from operations slipped to USD 523 million from USD 548 million in the fourth quarter of 2011. Facebook's net profit fell to USD 64 million from USD 302 million, and EPS to USD 0.03 from USD 0.14. Founder and CEO Mark Zuckerberg said, "In 2012, we connected over a billion people and became a mobile company. We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company.

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