Reuters: Global Markets: Facebook revenue jumps 40 percent in fourth quarter

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Facebook revenue jumps 40 percent in fourth quarter Jan 30th 2013, 21:43 Tweet Share this Email Print Related News UPDATE 4-Amazon shares set record after strong quarterly profit Tue, Jan 29 2013 CORRECTED-UPDATE 3-EMC sees better IT spend but 2013 EPS outlook misses Street Tue, Jan 29 2013 Pfizer fourth-quarter results top forecast, gives cautious 2013 view Tue, Jan 29 2013 Waddell & Reed profit up a third despite outflows Tue, Jan 29 2013 Yahoo sees revenue climb this year, but long road ahead Tue, Jan 29 2013 Analysis & Opinion OpenTable will pay $10 million for Foodspotting app Apple: The slaying of a tech hero Related Topics Investing and Taxes Simplified » Tech » Hot Stocks » Asian Markets » Facebook » The Facebook logo is pictured at the Facebook headquarters in Menlo Park, California January 29, 2013. Credit: Reuters/Robert Galbraith By Alexei Oreskovic SAN FRANCISCO | Wed Jan 30, 2013 4:24pm EST SAN FRANCISCO (Reuters) - Facebook Inc's advertising business grew at its fastest clip since before the company's May initial public offering, helping the company's revenue expand 40 percent to $1.585 billion. Shares of Facebook were down 5.9 percent to $29.40 in after hours trading on Wednesday. Facebook, the world's largest online social networking service, said net income in the fourth quarter was $64 million, or 3 cents a share, compared to $302 million, or 14 cents a share in the year-ago period. Excluding certain items, Facebook said it earned 17 cents a share. Facebook has ramped up its online advertising services in recent months, putting a greater emphasis on mobile ads and introducing capabilities that let marketers target Facebook users based on their Web browsing history. Advertising revenue in the fourth quarter grew 41 percent to $1.33 billion, with mobile ads representing 23 percent of Facebook's ad revenue. Facebook's overall fourth-quarter revenue was $1.585 billion, versus $1.131 billion in the year-ago period. (Reporting by Alexei Oreskovic; Editing by Phil Berlowitz) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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