Facebook’s quarterly revenues have exceeded $5bn for the first time, aided by growing advertising revenue from mobile devices which account for 80 percent of its entire ad income.
The company's fourth-quarter and full results for 2015 show yearly revenue of $17.9bn, an increase of 44 percent year on year, and an extra $2bn over the quarterly revenue of $3.8bn in 2014 to $5.8bn, a hike of 57 percent.
Facebook has its fingers in many pies, not least artificial intelligence and a project to bring internet connectivity to remote areas of the world, but the bulk of its revenue comes from advertising, indicating that Facebook’s core business model remains strong.
The healthy revenues are matched by a strong profits for the fourth quarter and the full year of $1.5bn and $3.6bn respectively.
Unsurprisingly, chief executive Mark Zuckerberg was pleased with his company’s performance, and hinted that more things are to come.
"2015 was a great year for Facebook. Our community continued to grow and our business is thriving. We continue to invest in better serving our community, building our business, and connecting the world," he said.
The results show that adverts served on mobile devices account for 80 percent of Facebook’s total advertising revenue.
This will come as no surprise given that Facebook had 1.44 billion monthly users on mobile devices in December 2015, an increase of 21 percent year on year. Overall the company had 1.59 billion monthly active users in December 2015, representing growth of 14 percent against the previous year.
A growing user base, solid foundations in the mobile space, and strong income versus operational costs mean that Facebook is continuing to see healthy profits on a monthly and yearly basis.
However, given the scope of the projects Facebook is working on beyond tweaking its core social network platform, it is likely that those profits will be reinvested in some of the company’s more left-field projects, such as the M for Messenger virtual assistant and AI.
Users are told that their non-existent 'iPhoneID' is expiring soon
Expansion of SDK intended to expand Amazon Alexa ecosystem
Locky returns from a prolonged rest with two new variants
AMD lambasted over Radeon RX Vega pricing that will add an extra £100 to RX Vega 56 and 64 graphics cards
Company accused of failing to tell anyone that the launch prices were only introductory offers