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Facebook reports 40% revenue growth as it sees mobile use outstrip web use for first time

Social media giant Facebook has reported that number of daily mobile users of the site had outgrown traditional web usage, helping grow revenue by 40 per cent,  according to its fourth quarter results. 

The growth in mobile helped the company report revenue of $1.585 billion, as it claimed it saw its monthly mobile users grow by 57 per cent year-on-year to reach 680 million. 

In making the announcement, Facebook CEO Mark Zuckerberg highlighted the growth in mobile by stating: "In 2012, we connected over a billion people and became a mobile company.

"We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company," he added. 

Advertising revenue for the company reached $1.33 billion during the fourth quarter, 41 per cent higher than the same period in 2011 - 84 per cent of Facebook's overall revenue.

Featured by The Drum