Facebook’s Revenues Surpass Expectations
Mark Zuckerberg surely meant every word he said, when three months ago he warned the investors that the expenses of Facebook are going to mount sharply.
On Wednesday, the social networking company reported its fourth quarter results and announced that revenue of the company increased by 49 percent in the quarter as compared to last year. The results surely exceed the expectations but the picture is not all rosy, as expenses of the company grew even faster than the earning.
The expenses went up 87 percent as compared to one year ago for the same quarter. It was partly driven by a huge amplification in stock payouts given to the employees.
Mr. Zuckerberg, the founder and chief executive of Facebook said, "We're very pleased with the growth of our business."
According to the company its revenue amounts to $3.85 billion for the fourth quarter. That is a leap from last year's $2.59 billion in the same quarter. The Net income was $701 million up from $523 million last year.
Not including some expenses, total profit of the company was 54 cents a share. According to the analysts expectations the company needed to earn 49 cents per share.