{"id":24771,"date":"2013-01-31T13:29:55","date_gmt":"2013-01-31T12:29:55","guid":{"rendered":"http:\/\/rt.com\/business\/news\/facebook-mobile-revenue-billion-158\/"},"modified":"2013-01-31T13:29:55","modified_gmt":"2013-01-31T12:29:55","slug":"facebook-profits-drop-79-but-mobile-ad-revenue-takes-off","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/breaking-news\/facebook-profits-drop-79-but-mobile-ad-revenue-takes-off\/","title":{"rendered":"Facebook profits drop 79% but mobile ad revenue takes off"},"content":{"rendered":"
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\"(AFP<\/p>\n

(AFP Photo \/ Lionel Bonaventure)<\/p>\n<\/div>\n

\n

Social network Facebook has reported earnings and revenue higher than expectations but with sharp drop in profit.<\/p>\n

Fourth quarter 2012 results show a huge slide in the company’s net income to $64 million from $302 million in the same quarter last year. Revenue went up 40% to $1.59 billion from a reported $1.13 billion year ago.<\/p>\n

Mobile revenue is an important figure and indicates the company’s ability to capitalize on growing demand for mobile platforms services. Facebook showed 23% of overall revenue coming form mobile ads, compared to 14% in the third quarter of 2012. The company reported under US GAAP.<\/p>\n

“In 2012, we connected over a billion people and became a mobile company,”<\/em> 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.”<\/em><\/p>\n

“It is really expensive to service mobile advertising, the fact that 23 percent of ad revenues are coming from mobile means their operating expenses are going to be higher,”<\/em> Brian Wieser, an analyst at Pivotal Research Group told CNBC.<\/p>\n

The company went public in May 2012. The moment Facebook announced its earnings the company’s shares went up and down in after-hours trading on the NASDAQ. It finally gained 1.5% on the closing with the price standing at $31.24. The company’s capitalization grew by $67.7 billion.<\/p>\n

In 2013, revenue from Facebook mobile advertising could reach $ 851.4 million and hit the $ 1.2 billion mark by 2016, experts predict.<\/p>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

(AFP Photo \/ Lionel Bonaventure)<\/p>\n

Social network Facebook has reported earnings and revenue higher than expectations but with sharp drop in profit.
\nFourth quarter 2012 results show a huge slide in the company’s net income to $64 million from $302 mil…<\/p>\n","protected":false},"author":1213,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[487],"tags":[],"class_list":{"0":"post-24771","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-breaking-news"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/24771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1213"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=24771"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/24771\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=24771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=24771"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=24771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}