Facebook, Inc. reported financial results for the fourth quarter and full year ended December 31, 2014. Revenue for the fourth quarter of 2014 totaled $3.85 billion, an increase of 49%, compared with $2.59 billion in the fourth quarter of 2013.
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Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have increased by 53%.
Revenue from advertising was $3.59 billion, a 53% increase from the same quarter last year. Excluding the impact of year-over-year changes in foreign exchange rates, revenue from advertising would have increased by 58%.
Mobile advertising revenue represented approximately 69% of advertising revenue for the fourth quarter of 2014, up from approximately 53% of advertising revenue in the fourth quarter of 2013.
Payments and other fees revenue was $257 million, a 7% increase from the same quarter last year.
GAAP costs and expenses for the fourth quarter of 2014 were $2.72 billion, an increase of 87% from the fourth quarter of 2013. Non-GAAP information for 2013 has been updated to exclude amortization of intangible assets to conform to our current period presentation. Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, non-GAAP costs and expenses were $1.63 billion in the fourth quarter of 2014, up 50% compared to $1.09 billion for the fourth quarter of 2013.
GAAP income from operations for the fourth quarter of each of 2014 and 2013 was $1.13 billion. Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, non-GAAP income from operations for the fourth quarter of 2014 was $2.22 billion, up 48% compared to $1.50 billion for the fourth quarter of 2013.
GAAP operating margin was 29% for the fourth quarter of 2014, compared to 44% in the fourth quarter of 2013. Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, non-GAAP operating margin was 58% for the fourth quarter of each of 2014 and 2013. ■