Facebook Reports Doubled Profits in Q4 2015
Facebook has reported more than doubled profits in the fourth quarter of 2015.
The social media giant’s net profit for the three months to December rose to $1.56 billion, up from $701 million.
Facebook also said that 80% of its advertising revenue in that period came from mobile advertising, up from 69% a year earlier.
Shares jumped 8.7% in after-hours trading in New York on the better than expected results.
Revenue for the full year jumped 44% to $17.9 billion, with net profit rising about $800 million to $3.7 billion.
The results mean that Facebook has now beaten analysts’ expectations for ten consecutive quarters.
Rob Sanderson, an analyst at MKM Partners, described the growth as phenomenal.
The number of monthly active users rose 14% to 1.59 billion in the fourth quarter compared with the same period in 2014, with 1.44 billion accessing Facebook on mobile devices – a 21% increase.
Facebook CEO Mark Zuckerberg said that 2015 was a “great year for Facebook. Our community continued to grow and our business is thriving”.
Mark Zuckerberg returned to work on January 25 after taking two months of paternity leave following the birth of his baby daughter.