SAN FRANCISCO, Jan 31 — Facebook Inc’s advertising business grew at its fastest clip since before the company’s May initial public offering, helping the company’s revenue expand 40 per cent to US$1.585 billion (RM4.8 billion).
Shares of Facebook were down 5.9 per cent to US$29.40 in afterhours trading yesterday.
Facebook, the world’s largest online social networking service, said net income in the fourth quarter was US$64 million, or 3 cents a share, compared to US$302 million, or 14 cents a share in the year-ago period.
Excluding certain items, Facebook said it earned 17 cents a share.
Facebook has ramped up its online advertising services in recent months, putting a greater emphasis on mobile ads and introducing capabilities that let marketers target Facebook users based on their Web browsing history.
Advertising revenue in the fourth quarter grew 41 per cent to US$1.33 billion, with mobile ads representing 23 per cent of Facebook’s ad revenue.
Facebook’s overall fourth-quarter revenue was US$1.585 billion, versus US$1.131 billion in the year-ago period. — Reuters