Facebook has reported its fourth quarter and full-year financial results for 2012, with quarterly revenue up 40% year-on-year to $1.585 billion but net income down over 78% to $64 million.
However, the social networking company noted that its research & development costs had more than doubled from Q4 2011.
At the end of 2012, Facebook had 1.06 billion monthly active users - up 25% from the previous year - while mobile monthly active users were up 57% to 680 million. The number of daily active users via mobile overtook the number of daily active web users in Q4 2012.
Most of Facebook’s quarterly revenue - 84% - came from advertising, with 23% of ad revenue being generated from mobile users.
Mark Zuckerberg, Facebook’s founder and CEO, said “In 2012, we connected over a billion people and became a mobile company. We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company.”