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Facebook Q4 income $1.13 billion

Staff writer |
Facebook reported financial results for the fourth quarter and full year ended December 31, 2013. For the fourth quarter of 2013, GAAP income from op

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Excluding share-based compensation and related payroll tax expenses, non-GAAP income from operations for the fourth quarter of 2013 was $1.46 billion, up 98% compared to $736 million for the fourth quarter 2012.

GAAP operating margin was 44% for the fourth quarter of 2013, compared to 33% in the fourth quarter of 2012. Excluding share-based compensation and related payroll tax expenses, non-GAAP operating margin was 56% for the fourth quarter of 2013, compared to 46% for the fourth quarter of 2012.

Provision for income taxes - GAAP income tax expense for the fourth quarter of 2013 was $607 million, representing a 54% effective tax rate. Excluding share-based compensation and related payroll tax expenses, the non-GAAP effective tax rate would have been approximately 46%.

Net income and EPS - For the fourth quarter of 2013, GAAP net income was $523 million, compared to $64 million for the fourth quarter of 2012. Excluding share-based compensation and related payroll tax expenses and income tax adjustments, non-GAAP net income for the fourth quarter of 2013 was $780 million, up 83% compared to $426 million for the fourth quarter of 2012. GAAP diluted EPS was $0.20 in the fourth quarter of 2013, compared to $0.03 in the fourth quarter of 2012.

Excluding share-based compensation and related payroll tax expenses and income tax adjustments, non-GAAP diluted EPS for the fourth quarter of 2013 was $0.31, up 82% compared to $0.17 in the fourth quarter of 2012.


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