Facebook's quarterly results topped analysts' expectations on Wednesday as mobile ad revenue and daily video views rose significantly.
The company posted fourth-quarter earnings of 54 cents per share, up from 31 cents a share in the year-earlier period. Revenue increased to $3.85 billion from $2.59 billion a year ago.
Analysts had expected the company to report earnings of 49 cents a share on $3.77 billion in revenue, according to a consensus estimate from Thomson Reuters.
"We got a lot done in 2014. Our community continues to grow and we're making progress towards connecting the world," said Mark Zuckerberg, Facebook founder and CEO.
In a post-earnings interview with CNBC on Wednesday, Facebook Chief Operating Officer Sheryl Sandberg said the company now has 3 billion video views per day, a huge increase from 1 billion in September.
"From the advertising side, that give us an opportunity to do more monetization because our ad products always follow our consumer products. When consumers do more video we have the ability to do more video ads" Sandberg said.
Mobile daily active users were 745 million on average for December 2014, an increase of 34 percent year-over-year, the company said.
Daily active users totaled 890 million, up 18 percent, year-over-year. Meanwhile, monthly active users increased 13 percent to 1.39 billion.
The social media giant said advertising revenue jumped 53, year-over-year, percent to $3.59 billion. Mobile ad accounted for about 69 percent of overall advertising revenue, compared to 53 percent last year.
"I think the investments we've made have paid off. When you look at Facebook over the last couple of years, what you see is a shift to mobile," Sandberg said.
After the earnings announcement, the company's shares were last down 1.5 percent in after-hours trading.