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Business

REUTERS
February 1, 2018
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Facebook revenue jumps 47 pct on soaring mobile ad sales


NEW YORK:  Facebook Inc reported a 47 percent jump in quarterly revenue on Wednesday, as the social media company´s mobile ad business got a boost from its focus on videos and improved targeting.

Total advertising revenue was $12.78 billion in the fourth quarter ended Dec 31, compared with analysts´ estimate of $12.30 billion, according to Thomson Reuters I/B/E/S.

Mobile ad revenue accounted for 89 percent of the total ad sales, up from 84 percent a year earlier.

Facebook said about 2.13 billion people were using its service monthly as of Dec 31, up 14 percent from a year earlier.

The results come at a time when Facebook has warned about a likely hit to user engagement in the near term from attempts to tweak its flagship News Feed feature.

Net income attributable to Facebook shareholders rose to $4.27 billion, or $1.44 per share, from $3.56 billion, or $1.21 per share, a year earlier.

Total quarterly revenue rose 47 percent to $12.97 billion, while full-year revenue was also up 47 percent at $40.65 billion.

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