tech:

taffy

Facebook Reports Fourth Quarter And Full Year 2013 Results

facebook

Facebook reported financial results for the fourth quarter and full year ended December 31, 2013.

Mark Zuckerberg (Founder and CEO, Facebook): 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.

 Full Year 2013 Business Highlights

  • Revenue for the full year 2013 was $7.87 billion, an increase of 55% year-over-year.
  • Income from operations for the full year 2013 was $2.80 billion.
  • Net income for the full year 2013 was $1.50 billion.
  • Free cash flow for the full year of 2013 was $2.85 billion.
  • Daily active users (DAUs) were 757 million on average for December 2013, an increase of 22% year-over-year.
  • Mobile DAUs were 556 million on average for December 2013, an increase of 49% year-over-year.
  • Monthly active users (MAUs) were 1.23 billion as of December 31, 2013, an increase of 16% year-over-year.
  • Mobile MAUs were 945 million as of December 31, 2013, an increase of 39% year-over-year.

Fourth Quarter 2013 Financial Highlights

Revenue – Revenue for the fourth quarter of 2013 totaled $2.59 billion, an increase of 63%, compared with $1.59 billion in the fourth quarter of 2012.

  • Revenue from advertising was $2.34 billion, a 76% increase from the same quarter last year.
  • Mobile advertising revenue represented approximately 53% of advertising revenue for the fourth quarter of 2013, up from approximately 23% of advertising revenue in the fourth quarter of 2012.
  • Payments and other fees revenue was $241 million for the fourth quarter of 2013.

Costs and expenses – Costs and expenses for the fourth quarter of 2013 were $1.45 billion, an increase of 37% from the fourth quarter of 2012, driven primarily by increased headcount and infrastructure expense.

Income from operations – For the fourth quarter of 2013, income from operations was $1.13 billion, compared to $523 million in the fourth quarter of 2012.

Operating margin – Operating margin was 44% for the fourth quarter of 2013, compared to 33% in the fourth quarter of 2012.

Provision for income taxes – Income tax expense for the fourth quarter of 2013 was $607 million, representing a 54% effective tax rate.

Net income and EPS For the fourth quarter of 2013,  net income was $523 million, compared to $64 million for the fourth quarter of 2012. Diluted EPS was 20 cents in the fourth quarter of 2013, compared to 3 cents in the fourth quarter of 2012.

Capital expenditures – Capital expenditures for the fourth quarter of 2013 were $483 million.

Cash and marketable securities – Cash and marketable securities were $11.45 billion at the end of 2013.

[Image courtesy: Facebook]

Just in

Apple sued in a landmark iPhone monopoly lawsuit — CNN

The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market, writes Brian Fung, Hannah Rabinowitz and Evan Perez.

Google is bringing satellite messaging to Android 15 — The Verge

Google’s second developer preview for Android 15 has arrived, bringing long-awaited support for satellite connectivity alongside several improvements to contactless payments, multi-language recognition, volume consistency, and interaction with PDFs via apps, writes Jess Weatherbed. 

Reddit CEO Steve Huffman is paid more than the heads of Meta, Pinterest, and Snap — combined — QZ

Reddit co-founder and CEO Steve Huffman has been blasted by Redditors and in media reports over his recently-revealed, super-sized pay package of $193 million in 2023, writes Laura Bratton. 

British AI pioneer Mustafa Suleyman joins Microsoft — BBC

Microsoft has announced British Artificial Intelligence pioneer Mustafa Suleyman will lead its newly-formed division, Microsoft AI, according to the BBC report. 

UnitedHealth Group has paid more than $2 billion to providers following cyberattack — CNBC

UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare, writes Ashley Capoot.