Facebook had plenty of good news to share from last quarter, like the fact that mobile now accounts for 53% of its ad revenue. But it held its tongue about the elephant in the room: declining usage among U.S. teenagers.
The growth of Facebook’s ad business is still being fueled by the adoption of news-feed ads that appear on desktop and mobile alike. That shift nudged the average effective price per ad up 92% over the previous year, according to chief financial officer David Ebersman, even while ad impressions dropped off by 8%.
The social network posted revenue of $2.59 billion, up 63% over the previous year. Net income was $532 million, up from $64 million in the fourth quarter of 2012, beating Wall Street expectations.