SAN FRANCISCO -- Facebook's status has gone from zero to hero in a few short months.
The startling transformation gained more momentum today after the social-networking giant reported boffo fourth-quarter results that showed super-strength in mobile.
Facebook posted earnings of 17 cents per share on revenue of $1.59 billion. Analysts expected a quarterly profit of 15 cents per share, on $1.53 billion in revenue, according to Thomson Reuters estimates.
The company, whose stock has soared Superman-like to the low-$30 range, initially dipped 1% to $30.88 in after-hours trading.
Facebook -- like nearly every major tech player -- has tied its success to a mobile strategy as millions of Americans snap up smartphones and tablet computers. About 60% of its 1 billion members use the Facebook mobile app.
And mobile revenue fueled the year-over-year surge, as Facebook benefitted from mobile-related products and services. It now accounts for 23% of Facebook's ad revenue, up from 14% in the previous quarter.
And, for the first time, Facebook says its mobile daily users exceed those on the web. Nearly 70% of Facebook's 1 billion members access it from a mobile device.
"Today, there is no argument: Facebook is a mobile company," CEO Mark Zuckerberg said in a conference call after the results were announced.
Facebook earned more revenue in the U.S. mobile display market than any ad publisher last year, with 18.4%, eMarketer estimates. Google's mobile display business is also growing. It took 17%, eMarketer says.
"The user base continues to expand at a healthy double-digit rate, which will help new products such as Gifts, Offers and Promoted Posts gain traction," says Lyons George, an analyst at The Motley Fool, an investment newsletter.
Still, Facebook must navigate the perils of declines in user engagement and rising expenses from data center investments, cautions Estimize analyst Joe Kunkle.
Then again, image can change quickly in the digital age.
Flash back to last summer, shortly after Facebook went public in a botched IPO. The stock was a sickly $17.73 in early September amid claims it lacked a strong mobile plan.
"The tale of Facebook the last six months demonstrates how fortunes can change," says Clark Fredricksen, vice president of researcher eMarketer. "Not only are they now well positioned in mobile with ads on News Feed, but they're doing well in display advertising with Facebook Exchange."
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