Facebook Inc (FB) Beats Earnings Estimates

Shares of Facebook Inc (FB) edged downward by as much as 0.09% in after-hours trading, falling as low as $76.17 per share

Facebook released its latest earnings report after closing bell tonight, posting adjusted earnings of 54 cents per share, a 69% improvement, on revenue of $3.85 billion, a 49% year over year increase. Excluding headwinds from currency exchange, Facebook would have seen a 53% increase in revenue.

Analysts had been expecting earnings of 48 cents per share on $3.78 billion in revenue for the fourth quarter.

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Quarterly numbers from Facebook’s earnings report

GAAP net income rose 34% to $701 million, compared to last year’s $523 million. GAAP earnings per share were 25 cents for the quarter, a 25% increase year over year.

The social network’s advertising revenue increased 53% to $3.59 billion. Excluding currency exchange rates, the segment’s revenue would have risen 58%. Mobile ad revenue was about 69% of Facebook’s total ad revenue, an increase from 53% in the same quarter a year ago. Revenue from payments and other fees rose 7% to $257 million for the fourth quarter.

Facebook’s (NASDAQ:FB) GAAP operating margin was 29%, compared to 44% in the same quarter a year ago. Income from operations was $1.13 billion, while GAAP costs and expenses rose 87% to $2.72 billion.

“We got a lot done in 2014,” Facebook founder and CEO Mark Zuckerberg said in a statement. “Our community continues to grow and we’re making progress towards connecting the world.”

Facebook (NASDAQ:FB) spent $517 million on capital expenditures during the quarter.

Facebook’s full year results

As of the end of the year, Facebook (NASDAQ:FB) had 1.19 billion mobile monthly active users, a 26% improvement year over year. The social network recorded a total of 1.39 billion monthly active users overall as of the end of the year. That’s a 13% growth rate. The number of daily active users rose 18% to 890 million, while the number of mobile daily active users grew 34% to 745 million.

Full year revenue rose 58% to $12.47 billion. Income from operations was $4.99 billion, while net income was $2.94 billion.