NEW YORK ( TheStreet) -- Facebook (FB) reported its fourth-quarter results after the market close Wednesday, with investors keen to see whether the social-network company can keep making money from mobile.
The social-networking giant led by CEO Mark Zuckerberg delivered, reporting non-GAAP earnings of 17 cents a share on $1.585 billion in revenue, as the company's top line jumped 40%. Revenue from advertising was up 41% to $1.33 billion, accounting for 84% of total revenue. Mobile revenue represented 23% of advertising revenue in the fourth quarter, up from 14% in the third quarter.
Analysts surveyed by Thomson Reuters expected Facebook to earn 15 cents a share on sales of $1.53 billion in the fourth quarter. In the third quarter, the company posted adjusted earnings of 12 cents a share on revenue of $1.26 billion.Payments and other fee revenue was $256 million, which was four months' worth of revenue for accounting reasons. Adjusting for the extra month, payments revenue was essentially flat. Facebook did not provide first-quarter 2013 guidance, but did note that capital expenditures for 2013 will be around $1.8 billion, as the company ramps up its hiring and infrastructure spending. CFO David Ebersman noted that total expenses excluding stock-based compensation will likely grow around 50% in 2013. Shares of the social network rose 1.46% to $31.13 during Wednesday trading. Shares are lower by 3.14% to $30.25 in extended-hour trading, following the conference call. -- Written by Chris Ciaccia and James Rogers in New York. Follow @Commodity_Bull Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
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