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Facebook Reports Fourth Quarter And Full Year 2014 Results

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Facebook reported financial results for the fourth quarter and full year ended December 31, 2014.

Mark Zuckerberg (Founder and CEO, Facebook): We got a lot done in 2014. Our community continues to grow and we’re making progress towards connecting the world.

Full Year 2014 Business Highlights

  • Revenue for the full year 2014 was $12.47 billion, an increase of 58% year-over-year.
  • Income from operations for the full year 2014 was $4.99 billion.
  • Net income for the full year 2014 was $2.94 billion.
  • Free cash flow for the full year 2014 was $3.63 billion.
  • Daily active users (DAUs) were 890 million on average for December 2014, an increase of 18% year-over-year.
  • Mobile DAUs were 745 million on average for December 2014, an increase of 34% year-over-year.
  • Monthly active users (MAUs) were 1.39 billion as of December 31, 2014, an increase of 13% year-over-year.
  • Mobile MAUs were 1.19 billion as of December 31, 2014, an increase of 26% year-over-year.

Fourth Quarter 2014 Financial Highlights

Revenue – Revenue for the fourth quarter of 2014 totaled $3.85 billion, an increase of 49%, compared with $2.59 billion in the fourth quarter of 2013. Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have increased by 53%.

  • Revenue from advertising was $3.59 billion, a 53% increase from the same quarter last year.
  • Mobile advertising revenue represented approximately 69% of advertising revenue for the fourth quarter of 2014, up from approximately 53% of advertising revenue in the fourth quarter of 2013.
  • Payments and other fees revenue was $257 million, a 7% increase from the same quarter last year.

Costs and expenses – Costs and expenses for the fourth quarter of 2014 were $2.72 billion, an increase of 87% from the fourth quarter of 2013.

Income from operations – Income from operations for the fourth quarter of each of 2014 and 2013 was $1.13 billion.

Operating margin – Operating margin was 29% for the fourth quarter of 2014, compared to 44% in the fourth quarter of 2013.

Provision for income taxes – Income tax expense for the fourth quarter of 2014 was $413 million, representing a 37% effective tax rate.

Net income and EPS – Net income for the fourth quarter of 2014 was $701 million, up 34% compared to $523 million for the fourth quarter of 2013. Diluted EPS was 25 cents in the fourth quarter of 2014, up 25% compared to 20 cents in the fourth quarter of 2013.

Capital expenditures – Capital expenditures for the fourth quarter of 2014 were $517 million.

Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $11.20 billion at the end of the fourth quarter of 2014.

Free cash flow – Free cash flow for the fourth quarter of 2014 was $1.07 billion.

[Image courtesy: Facebook]

 

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