Facebook's strong mobile advertising business helped the social network to report positive results for the fourth quarter of 2014.
Revenue was up 49% to $3.85 billion, as the company's profit grew by 34% to $701 million. For the full year, Facebook reported a net profit of $2.94 billion on $12.47 billion in revenue.
When Facebook started selling mobile ads in 2012, not even the keenest optimists could have predicted how big a success they would be for the company. In each of the past seven quarters, mobile ads accounted for more then 90% of Facebook's revenue growth. In the past three months, mobile advertising sales amounted to almost $2.5 billion. Having doubled since the previous year's holiday quarter, mobile ad revenue now accounts for more than two thirds of Facebook's advertising revenue and 64% of total revenue.
Considering the fact that Facebook has 745 million mobile users on an average day, it is no surprise that its mobile advertising efforts are successful. The pace at which mobile ads have become the most important source of revenue for the company is astonishing though.
This chart shows Facebook's revenue growth since the first quarter of 2012.
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