The company made a profit of 64 million dollars in the final three months of last year.
London: Facebook CEO Mark Zuckerberg has insisted that the social network is not planning to release a mobile phone.
Zuckerberg said releasing a Facebook phone was "not the right strategy".
He said that right now they plan to make Facebook really good across all of the devices that people use, and are going to keep on pushing to get kind of more integrated with the system.’
According to the BBC, his comments came as his company announced a sharp drop in profits - but an increase in revenue.
The company made a profit of 64 million dollars in the final three months of last year, compared with 302 million dollars a year earlier.
But it has seen an increase in revenue coming from mobile advertising, an area investors see as one of the company''s biggest challenges.
According to the report, the firm said that 23 percent of its advertising revenue now came from mobile.