A surge in mobile ad revenue helped Facebook beat Wall Street expectations on its fourth quarter earnings.

The social media giants announced earnings of $64m (£40.5m) on its revenues thanks to a 40% rise which helped bring the overall figures for the quarter to $1.59bn.

Despite the announcement, shares for the firm were down three per cent at $30.21; a far cry from the $42 price when the company first floated in May.

The firm also announced that its mobile revenue had doubled, with mobile users now exceeding desktop users for the first time: Figures showed that the social networking site now had 680 million users daily active mobile users compared to 618 million PC users.

In total mobile accounted for 23% of Facebook’s fourth quarter advertising revenue – up nine per cent on the third quarter figures of 14%.

Since its stock market flotation in May last year, the actual value of Facebook as a business – and not just a site for friends and family to meet on – has been repeatedly brought into question.

With over a billion users, the market is certainly there for the firm, if the correct strategies are taken.

That is why the firm has looked to push out new ideas and ventures, especially when it comes to expanding its efforts over mobile and the advantages of using the mobile form of Facebook for social media marketing.

Facebook CEO, Mark Zuckerberg, said the shift to mobile was certainly challenging for the firm to navigate. He was however confident his firm were tackling that challenge in the right way.

He said: “We started off the year with apps that weren’t as high-quality as we would have wanted. Today there’s no argument. Facebook is a mobile company.”

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About the author:

Martin Boonham is an online copywriter for ClickThrough Marketing, he has worked there since October 2012. He has a Masters in Print Journalism from Nottingham Trent University, where he also gained his NCTJ qualification at the same time; achieving qualifications in subbing, shorthand and media law.