Social networking site Facebook reports record profits

Social networking heavyweight Facebook has posted record profits of £1.5bn from 750 million daily users

Facebook
Facebook

Facebook has reported record revenues of US$2.5bn (£1.5bn) from 750 million daily users, the social networking heavyweight said.

The end of quarter results, posted at the close of the US markets, showed a revenue rise of US$1bn (£0.6bn) on the same period last year.

It was the third consecutive quarterly revenue increase - US$2.585bn (£1.56bn) up from the previous high of US$2.016bn (£1.22bn), three months earlier.

More than 90% of the revenue came from advertising - the last three months having included the period when Facebook began placing video adverts in users’ news feeds.

Mark Zuckerberg, Facebook founder and chief executive, said: “It was a great end to the year for Facebook.

“We’re looking forward to our next decade and to helping connect the rest of the world.”

A total of 757 million people used the world’s biggest social media platform every day between October and December, today’s results said, up from 618 million the same time last year.

The number of monthly users accessing Facebook on mobile devices - including smartphones and tablets - rose to 556 million from 374 million, 12 months earlier.

It was a year in which Facebook attracted criticism from internet safety campaigners and the Prime Minister David Cameron, after a slew of concerns about content and privacy settings.

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