Facebook posts strong earnings and tops $12 billion in annual revenue

See the original posting on The Verge

Facebook is far and away the largest social network in the world and increasingly dominates the time we spend in mobile apps. It’s running neck and neck with YouTube when it comes to data consumption on our smartphones and tablets. All the time people spend in the company’s Newsfeed is growing into a huge advertising business for Facebook, especially now that it’s got more lucrative formats like video auto-playing. Its fourth quarter earnings grew 45 percent over last year, to $3.85 billion, with a profit of $701 million. For the full year, the company generated $12.46 billion in revenue, a 58 percent increase over 2013.

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