Facebook had a 52-percent jump in quarterly revenue as it sold more ads targeted at a fast-growing number of mobile users.
It seems that the outfit ignored the face of economic uncertainty around the world and a strong US dollar depressing the value of overseas sales.
Facebook’s dominance in mobile advertising helped to allay Wall Street concerns over its heavy investments in messaging service WhatsApp and virtual reality unit Oculus, which have not yet generated profits.
They were helped by Chief Financial Officer David Wehner’s comment that he expected operating expenses to increase by 30 to 40 percent over the course of the year,. This was slower than last year.
Total revenue rose to $5.84 billion from $3.85 billion a year earlier, with ad revenue increasing 56.8 percent to $5.64 billion in the holiday shopping period, when spending on advertising typically spikes.
Analysts on average had expected revenue of $5.37 billion so it seems that Mark Zuckerburg is laughing all the way to the bank.