Facebook Betters Expectations
January 31 , 2013
Facebook performed better than Wall Street's expectations and went ahead on Wednesday to announce a 4thquarter earnings of about $64 million as revenues boomed 40% to touch $1.59 billion. The surprise boost to the revenue came as mobile earnings doubled and mobile users now seem to outnumber the desktop audience. CEO Mark Zuckerberg said that 23% of advertising revenue came in from mobiles, which is a good lead on the 14% reported in the third quarter. The social networking giant’s announcement was met with caution by investors as the share slipped slightly in the after-trading hours.