FINANCE

Facebook full-year revenues rise 55% to nearly $7.9 billion

BY Staff Writer

New York — Record levels of engagement helped Facebook grow revenue in its fourth quarter, ended December 31, by 63% to nearly $2.59 billion. Full year revenues advanced 55% to nearly $7.9 billion.

Net income increased 116% to $1.13 billion, from $523 million, or three cents a share.

The social media giant said that its daily active users in the fourth quarter increased 22% to 757 million; mobile daily active users increased 49% to 556 million. The number of people who used Facebook on a monthly basis increased 16% to 1.23 billion, and those who did so monthly via a mobile device totaled 945 million.

Facebook said that 53% of its fourth quarter revenue of $2.59 billion was generated by mobile, well ahead of the 23% that mobile represented in the fourth quarter the prior year.

"It was a great end to the year for Facebook," said company founder and CEO Mark Zuckerberg. "We’re looking forward to our next decade and to helping connect the rest of the world."

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Mobile momentum continues at Facebook

BY CSA STAFF

Retailer and CPG companies’ usage of Facebook to engage with customers helped propel the 10-year-old social media platform to record levels of usage, sales and profitability in the fourth quarter.

Facebook said its daily active users increased 22% to 757 million while mobile daily active users increased 49% to 556 million. Those who used Facebook on a monthly basis increased 16% to 1.23 billion and those who did so monthly via a mobile device totaled 945 million.

The record levels of user engagement helped the social media platform grow revenues for the fourth quarter ended Dec. 31 by 63% to nearly $2.59 billion while full-year revenues advanced 55% to nearly $7.9 billion. Net income increased 116% to $1.13 billion, or 20 cents a share, from $523 million, or three cents a share.

"It was a great end to the year for Facebook," said Mark Zuckerberg, the company’s founder and CEO. "We’re looking forward to our next decade and to helping connect the rest of the world."

The rest of the world will increasingly be connecting via Facebook on a mobile device and the fourth quarter offers more evidence that the company is effectively monetizing mobile. The company noted that 53% of its fourth-quarter revenue of $2.59 billion was generated by mobile, well ahead of the 23% that mobile represented in the fourth quarter the prior year.

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NRF responds to minimum wage hike

BY CSA STAFF

President Obama in his State of the Union address last night said he plans to sign an executive order increasing the federal minimum wage from $7.25 to $10.10 per hour for workers on new government contracts and asked Congress to approve the same increase for all workers — and the National Retail Federation is not happy.

NRF president and CEO Matthew Shay issued a response ahead of the president’s address.

“If you want to create minimum opportunities, then raise the minimum wage. We welcome the president’s focus on the economy and jobs, but a minimum wage hike runs counter to that goal. Raising the minimum wage would place a new burden on employers at a time when national policy should be focused on removing barriers to job creation, not creating new regulations or mandates. It’s simple math — if the cost of hiring goes up, hiring goes down.”

According to Shay, fewer than 5% of hourly workers are paid the minimum wage. The NRF believes that it’s really a starting wage allowing teenagers or others with little job experience to enter the workforce.

“A mandated hike in labor costs would negatively impact businesses that employ people in entry-level jobs and ultimately hurt the people it is intended to help. This isn’t economic theory — when the minimum wage went up in 2009, half a million part-time workers lost their jobs. That’s a risk our economy can’t afford to take,” Shay added.

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