Facebook revenue for 2012 $1.585 bn, up from $1.131 bn

Facebook reported revenue of $1.585 billion for the year 2012, up from $1.131 billion in the precious year. The most significant takeaway from these numbers was the growth of mobile revenue for the social networking site. The mobile ad business now makes up 23 per cent of total ad revenue at Facebook, as against 14 per cent in the third quarter of 2012.

CEO Mark Zuckerberg not wasting time in capitalising on this said, during an investor call, that there was no argument, that Facebook was a mobile company. He highlighted the fact that an increasing number of users were accessing Facebook on mobile rather than on desktop.

He pointed out to a comScore report that Facebook was now the top app in the US ahead of Google Maps accounting for 23 per cent time spent on mobile apps in the US, followed by Instagram which was at 3 per cent and Gmail also at 3 per cent.

Zuckerberg also spoke about how Facebook worked on improvement of current batch of mobile apps this year and referred to the Android update which saw the app being completely re-written, focusing on stability and speed.

For Zuckeberg, mobile was clearly where the money lay and he also said that the company would concentrate on providing 'new mobile experiences' for users.

Zuckerberg today told analysts that the social network's sharp focus on mobile was yielding  handsome results.