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Facebook's quarterly profits up by 34%

  • Facebook has posted a fourth quarterly profit of $701 million, up 34% from a year ago, according to media reports.

    The social networking giant’s ad revenues increased by 53% to $3.59 billion. Mobile ad sales contributed to most of the revenue.

    Facebook has about 1.4 billion active users a month currently, a growth of 13% compared to a year ago, the company reportedly said.

    The total profit for 2014 was $2.9 billion, nearly double of the corresponding figure for the previous year. 

    Tagged as: Facebook, fourth quarterly profit, social networking giant, ad revenues, mobile ad sales, revenue, active users, business news