Facebook’s newly released figures for Q4 2017 show that revenue came in well above analyst expectations at $12.97 billion. The consensus projection was that sales revenue would come in at $12.6 billion.
Mobile ad revenue accounted for around 89% of the social media giant’s total ad sales for the quarter.
The number of monthly active users rose 14% to 2.13 billion, which was a slightly lower rate of growth than the previous quarter. The company cemented itself as the world’s second largest ad seller after Google.
The figures were, however, not all positive. The time spent by users on the site has fallen by around 5%, or 50 million hours a day. Mark Zuckerberg noted that changes to the news feed, such as reducing the volume of viral videos, were a major factor in the drop.