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Facebook Q4 profit jumped 53%

Christian Fernsby |
Facebook Inc. Wednesday reported a fourth-quarter profit that increased from a year ago, driven largely by 33% growth in revenues.

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Topics: FACEBOOK   

Menlo Park, California-based Facebook's fourth-quarter profit jumped 53% to $11.22 billion or $3.88 per share from $7.35 billion or $2.56 per share last year.

Revenues for the quarter rose 33 percent to $28.07 billion from $21.08 billion last year.

Daily active users were up 11 percent to 1.84 billion on average for December, while monthly active users increased 12 percent to 2.80 billion. Total advertising revenues rose 31 percent to $27.19 billion.

"We had a strong end to the year as people and businesses continued to use our services during these challenging times," said Mark Zuckerberg, Facebook founder and CEO. "I'm excited about our product roadmap for 2021 as we build new and meaningful ways to create economic opportunity, build community and help people just have fun."

Moving ahead, Zuckerberg said that the company continues to "face significant uncertainty" as it manages through a number of cross currents in 2021.

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