This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Facebook's CFO: 'We Became a Mobile Company in 2012'

NEW YORK ( TheStreet) -- Facebook's (FB - Get Report) fourth-quarter earnings beat Wall Street's estimates, helped by ad revenue on mobile devices such as smartphones.

In a phone interview with TheStreet, Chief Financial Officer David Ebersman said that "2012 was the year Facebook became a mobile company. Mobile provides a huge opportunity for Facebook, and we're working to make sure our ad products work well on mobile."

Mobile revenue represented 23% of advertising sales in the fourth quarter, up from 14% in the third quarter. Total advertising revenue was $1.585 billion.

While mobile continues to become a bigger part of the company, "it's still very early in mobile," Ebersman said. "It's still early in bringing products to market, and we want to make sure our ad products work well."

For the first time, the rapidly growing company experienced mobile daily active users (DAU) surpass web DAUs. "This is exactly what we expect," Ebersman, 42, said. "The rapid growth of MAU provides greater utility."

Costs and expenses rose sharply, jumping 82% to $1.06 billion, but the former Genentech CFO isn't worried. "Our key issues are investments in our people [Facebook ended the quarter with over 4,600 employees] and infrastructure," Ebersman said. "We are investing in engagement and monetization, and we're showing the results."

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FB $117.81 -0.21%
AAPL $93.24 -0.41%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs