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:
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