Shares of Facebook are absolutely soaring on Thursday, after the company handily beat Wall Street expectations in its quarterly earnings report on Wednesday.
The stock ended trading at $61.08, up 14.10% or $7.556 a share. This is the first time the stock end trading above the $60 mark.
The company is riding high on the strength of its mobile advertising, which represented over 50% of all of Facebook’s advertising revenue for the first time. The last quarter was also the first time that mobile advertising crossed $1 billion for the first time as well.
Advertising revenue was $2.34 billion for the quarter. It increased 76% from the same quarter the year before. Mobile accounted for 53% of that revenue, up from approximately 23% of advertising revenue in the fourth quarter of 2012.
Even more impressive: the $1.25 in mobile advertising was nearly as large as the company’s total ad revenue in the fourth quarter of 2012.
In the earnings report, Facebook posted revenue of $2.59 billion for the quarter, beating Wall Street’s estimates of $2.33 billion, and up 55% from $1.6 billion in the fourth quarter of 2012. Adjusted earnings per share came in at 31 cents in the quarter, higher than the 27 cents a share that analysts had been expecting.
For the full year 2013, Facebook saw revenue of $7.9 billion, and EPS of 88 cents.
“It was a great end to the year for Facebook,” Mark Zuckerberg, Facebook founder and CEO, said in a statement. “We’re looking forward to our next decade and to helping connect the rest of the world.”
Advertising revenue was $2.34 billion for the quarter. It increased 76% from the same quarter the year before. Mobile accounted for 53% of that revenue, up from approximately 23% of advertising revenue in the fourth quarter of 2012.
Revenue from payments and fees for the quarter was $241 million.
GAAP net income was $523 million, compared to a net income of $64 million for the fourth quarter of 2012, while non-GAAP net income for the quarter was $780 million, up 83% compared to $426 million for the fourth quarter of 2012.
For the full year, monthly active users (MAUs) were 1.23 billion as of December 31, 2013 , an increase of 16% year-over-year, while mobile MAUs were 945 million, an increase of 39% year-over-year.
Daily active users (DAUs) were 757 million on average, an increase of 22% year-over-year, while mobile DAUs were 556 million on average, an increase of 49%.
(Image source: http://www.happyologist.co.uk)
