As the world’s largest social network announces its fourth-quarter results
Are you on Facebook?
If so, Facebook has thanked you for its astounding fourth-quarter results, wherein revenues rose above $10bn for the first time in the company’s history.
Why? Because over 1.39 billion users actively log onto Facebook every month – that’s one in seven people in the whole world.
This has helped the world’s largest social network report fourth-quarter profits of $701m, up 34% on the same period last year.
Facebook’s total profits for the year were a whopping $2.9bn, from $12.47bn of revenues.
Advertising revenue soared by 53% to $3.59bn and 70% of that came from mobile ad sales.
In the fourth quarter, Facebook spent nearly $1.1bn on research and development. According to the BBC, this led to the amount of profit made on each dollar of revenue decrease from 44% to 29% from a year earlier.
In a Facebook post, Facebook founder Mark Zuckerberg said:
“We just announced our quarterly earnings and gave an update on our community’s progress.
“2014 was a year of great progress on our mission to connect the world. Now, 1.39 billion people connect on Facebook each month, and our community reached a lot of other important milestones too. These numbers represent billions of moments of sharing and friendship worldwide.
“Thank you for being a part of our community, and for helping to connect the world.”
Facebook’s users around the world:
HOW RICH IS MARK ZUCKERBERG?
According to Forbes, Zuckerberg is now worth a whopping $34bn – 23 times what he was worth in 2008 ($1.5bn). He’s beaten Bill Gates to become “the biggest gainer” of 2014and has added $15bn to its fortune in the last year.
Apple records $18bn quarterly profit – the largest in history
Wed, 28 Jan 2015| By Harry Cockburn
Smartphone sales boost figures as iPad sales slide
Mon, 26 Jan 2015| By Sophie Hobson
It’s another feather in the cap for London’s thriving fintech scene.
Fri, 23 Jan 2015| By Shruti Tripathi Chopra
If there’s one person who can predict the future of the internet, it’s Google boss Eric Schmidt.
Who at Apple earns EIGHT TIMES more than CEO Tim Cook?
Fri, 23 Jan 2015| By Robyn Vinter