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Power of mobile ads: Facebook's 2013 sales up 55% to $7.9 billion

Now a majority mobile outfit by users and revenue

Power of mobile ads: Facebook's 2013 sales up 55% to $7.9 billion
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Facebook (NASDAQ:FB) has announced its full year financials for 2013.

Revenue was $7.9 billion, up 55 percent year-on-year.

Net income was $2.8 billion.

This performance was driven by a strong Q4 period, in which revenue was up 63 percent to $2.6 billion.

Better targeted

The key driver behind Facebook's figures is its successful transition to mobile, with 73 percent of Facebook's daily active users coming from mobile platforms.

That's 556 million people, up 49 percent compared to 2012, and 296 million of them only use Facebook on mobile devices.

This has enabled Facebook to massively scale its mobile advertising business. Mobile ads accounted for 53 percent of Q4 advertising revenue.

This compares to mobile advertising accounting for just 23 percent of Q4 2012 advertising.

Advertising currently accounts for around 90 percent of Facebook's revenue.

The company ended the period with $11.5 billion in cash and marketable securities were $11.45 billion.

[source: Facebook IR]