Facebook Reports Fourth Quarter And Full Year 2013 Results

595

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]