Facebook 2014 Annual Report Download - page 35

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You should read the following discussion of our financial condition and results of operations in conjunction with our consolidated financial statements
and the related notes included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Annual Report on Form 10-
K. In addition to
our historical consolidated financial information, the following discussion contains forward-
looking statements that reflect our plans, estimates, and
beliefs. Our actual results could differ materially from those discussed in the forward-
looking statements. Factors that could cause or contribute to these
differences include those discussed below and elsewhere in this Annual Report on Form 10-
K, particularly in Part I, Item 1A, "Risk Factors." For a
discussion of limitations in the measurement of certain of our user metrics, see the section entitled "Limitations of Key Metrics and Other Data" in this
Annual Report on Form 10
-K.
Overview
We generate substantially all of our revenue from advertising and from fees associated with our Payments infrastructure that enables people who
use Facebook to purchase virtual and digital goods from developers. For the year ended December 31, 2014 , we recorded revenue of $12.47 billion
,
income from operations of $4.99 billion , and net income of $2.94 billion .
32
Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations