Boosted by surging mobile revenue, Facebook has today smashed financial expectations with a full year revenue of $7.87bn, an increase of 55% year-over-year.

Revealed via the social networking giant's financial results for the fourth quarter and full year ended December 31, 2013, the company's tenth year of existence was marked with encouraging results.

Income from operations for the full year 2013 was $2.80 billion, while net income for the full year 2013 was $1.50 billion.

Daily active users (DAUs) were 757 million on average for December 2013, an increase of 22% year-over-year with mobile DAUs increasing to 556 million on average for December 2013, a rise of 49% year-over-year.

Monthly active users (MAUs) were 1.23 billion as of December 31, 2013, an increase of 16% year-over-year and mobile MAUs were 945 million as of December 31, 2013, an increase of 39% year-over-year.

"It was a great end to the year for Facebook," says Mark Zuckerberg, founder and CEO, Facebook. "We're looking forward to our next decade and to helping connect the rest of the world."

Revenue

Revenue for the fourth quarter of 2013 totaled $2.59 billion, an increase of 63%, compared with $1.59 billion in the fourth quarter of 2012.

* Revenue from advertising was $2.34 billion, a 76% increase from the same quarter last year.

* Mobile advertising revenue represented approximately 53% of advertising revenue for the fourth quarter of 2013, up from approximately 23% of advertising revenue in the fourth quarter of 2012.

* Payments and other fees revenue was $241 million for the fourth quarter of 2013.