Facebook Surprises Everybody by Growing Revenue 63%, Now Has 1.23 Billion Active Members

Posted by Techvibes NewsDesk

Facebook grew revenue 63% to $2.59 billion in today's quarterly earnings report, sending the stock shooting up nearly 10% in afterhours trading.

Net income spiked from $64 million to $523 million, while annual revenue reached $7.8 billion, up 55% from 2012.

The world's largest social network now claims to have 1.23 billion active users, up 16%, with 945 million monthly active mobile users, up 39%. Facebook is rapidly becoming a "mobile ad firm" with 53% of total revenue now coming from mobile ads.

The report, which exceeded the expectations of the Wall Street consensus, comes at a time when Facebook is being denounced as on a decline. Evidently, that isn't so—Mark Zuckerberg's multi-billion dollar social empire is bigger and stronger than ever, making it possibly too big to fall.

 

Company:
Facebook
Website:
http://www.facebook.com
Location:
Toronto, Ontario, Canada

Facebook's mission is to give people the power to share and make the world more open and connected. Millions of people use Facebook everyday to keep up with friends, upload an unlimited number of photos, share links and videos, and learn more about the people they meet. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more



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