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MARKETS LIVE BLOG:

STOCK FUTURES SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Mobile ads spur Facebook's revenue to record $2.59bln in Q4

ANI

Washington, Jan. 30 (ANI): Facebook earned 2.59 billion dollars in revenue and adjusted earnings per share of 31 cents in its fourth quarter.

The social networking site's fourth-quarter report beat analysts' expectations on all fronts.

According to CNET, mobile played an increasingly important role in Facebook's business, with 53 percent of advertising revenue, or 1.25 billion dollars, coming from the company's mobile products.

The company had 1.23 billion monthly active users as of December 31, 2013.

The company earned revenue of 2.59 billion dollars in the fourth quarter, an increase of 63 percent over the fourth quarter of 2012.

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Revenue for the full year 2013 came in at 7.87 billion dollars.

The social networking site's fourth-quarter revenue from advertising was 2.34 billion dollars, a 76 percent increase from the same quarter last year.ANI)