Facebook has released its full-year and Q4 results for 2014, with advertising driving a growth in profits.
The social media giant’s quarterly profits hit $701 million, up 34% from the previous year. Meanwhile, full-year profits were up at $2.9 billion, up from $1.5 billion for 2013.
Q4 revenues rose to $3,851 billion from $2,585 billion in Q4 2013. Full-year revenues rose from $7,872 in 2013 to $12,466 billion in 2014.
The growth was driven by Facebook’s lucrative mobile advertising business, which provided 70% of the $3.59 billion advertising revenue.
While Facebook‘s membership might not be expanding as quickly as it used to in its early days, it is still growing. Monthly active users sat at 1.39 billion as of December 31, 2014, representing an increase of 13% year-over-year.
CEO and founder Mark Zuckerberg commented: "We got a lot done in 2014. Our community continues to grow and we’re making progress towards connecting the world."
