Social media company returns strong results
FACEBOOK has bounced back from its stockmarket woes with strong fourth quarter results for 2012.
The company doubled its mobile advertising revenue, which now makes up for 23% of the company's ad revenue.
But the gains in mobile advertising were tempered with a 79% fall in net income.
Facebook's strongest ad revenue is still in the US and Canada, which accounted for 47% of the company's fourth-quarter revenue.
The company has also released some interesting statistics.
On New Year's Day, users uploaded 600 million photos to Instagram, setting a new record for the photo sharing website, which Facebook bought for $1 billion US last year.
There have also been gains in Facebook Offers, one of many revenue-boosting new features added to the social networking site, with 42 million users claiming an offer so far.