News Column

Facebook Profits Dive as Earnings Rise 40 Percent

Jan 30, 2013
Facebook Profits

Facebook posted a 40-percent rise in fourth-quarter earnings Wednesday as the social networking giant brought in $1.585 billion.

But earnings plummeted to 64 million dollars in the quarter, compared to $302 million a year earlier, triggering a 5-per-cent slide in Facebook's shares in after-hours trading.

Facebook said it had 1.06 billion active monthly users during the quarter and 618 million daily active users.

Facebook said costs rose 82 per cent to $1.06 billion as it spent heavily to boost its mobile offerings.

"In 2012, we connected over a billion people and became a mobile company," said Mark Zuckerberg, Facebook founder and chief executive. "We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company."

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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