By Zach Miners
January 29, 2014 05:15 PM ET
IDG News Service – More than half of Facebook’s ad sales came from mobile devices in the fourth quarter, showing continued strength in the site’s ability to monetize its service on smaller screens.
Total revenue for the quarter ended Dec. 31 was US$2.59 billion, a 63 percent increase from the same period the previous year, the company reported Wednesday. Facebook’s sales beat analysts’ expectations of $2.33 billion, as polled by Thomson Reuters.
Net income for the social media company was $523 million, a more than 700 percent increase from the fourth quarter in 2012. Earnings per share was $0.20. Excluding share-based compensation expenses and related payroll tax expenses and adjustments, earnings per share was $0.31, topping analyst expectations of $0.27.
Facebook generated sales of $2.34 billion from advertising, a 76 percent increase from the previous year. Of its total ad sales, 53 percent came from […]