Facebook Beats the Street and Exceeds Q4 Earnings Estimates

It looks like Facebook is starting to find its way as a publicly traded company. The social networking site posted its fourth quarter financial results, which showed a 40 percent jump in revenue to $1.59 billion, compared to $1.13 billion in the same quarter one year ago. Facebook also noted its strongest quarter ever in terms of advertising dollars.

The company raked in $1.33 billion in revenue from advertising, which accounted for 84 percent of its total revenue, and a 41 percent year-on-year increase. Facebook's efforts in the mobile space are clearly paying off.

The Facebook

"In 2012, we connected over a billion people and became a mobile company," said Mark Zuckerberg, Facebook founder and CEO. "We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company."

This is the kind of quarter Facebook after watching its share price tumble in the market place. The social networking site has gone to great pains repositioning itself as a mobile company, which Mark Zuckerberg says it now is.