Facebook, on Wednesday, released its fourth quarter 2012 earnings in which it posted $1.59 billion in revenue for the fourth quarter of 2012, beating Wall Street estimates of $1.53 billion for the quarter. That also represented $0.17 earnings per share, beating estimates of $0.15 per share by a hair. The reported revenue also represented a 40% jump over the same quarter of last year, likely spurred by the company’s efforts to increase profits through advertising and other means.
“In 2012, we connected over a billion people and became a mobile company,” said Mark Zuckerberg, Facebook founder and CEO. “We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company.”
The firm noted that highlights include a jump of 14% in mobile revenue, which accounted for 23% of the company’s entire advertising revenue during the quarter, the launch of Graph Search Beta and delivered a new Facebook app for Android 2.0 app.