Facebook?s Q4 Payments Revenue, Including Less Than $5M In Gifts, Was Flat At $256M After $66M Revenue Charge

Facebook has been making some efforts to grow new business areas beyond advertising in areas like Gifts and Facebook Credits in apps, but so far the company has failed to convert that into meaningful growth. The company today reported Q4 revenues of $256 million for payments -- which includes services like Facebook Credits and its new Gifts service. While this looks like a 45% increase on Q3, it actually includes 24 months of "historical transactional information" that it's using to count towards future refunds and chargebacks, worth some $66 million. "Adjusting for the $66 million of revenue in the extra month of December, Payments and other fees revenue would have been essentially flat year-over-year," it noted.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/s0azqnY2g80/

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