After Facebook released its fourth-quarter earnings report in January, CEO Mark Zuckerberg proclaimed that Facebook had "become a mobile company." In the latest earnings report, the company further justified that claim.
Facebook had 751 million monthly active users on mobile as of the end of March, a 54% increase from the same quarter a year ago, the company revealed in its first-quarter earnings report on Wednesday. Overall, Facebook had 1.11 billion monthly active users in the quarter, a 23% increase year-over-year.
Mobile ad revenue now accounts for 30% (or about $375 million) of Facebook's $1.25 billion in total ad revenue. In the previous quarter, mobile represented 23% of the company's total ad revenue.
Facebook reported earnings of $0.12 per share on overall revenue of $1.46 billion for the quarter, falling just short of Wall Street's profit estimates of $0.13 per share, but beating revenue estimates of $1.44 billion.
The company's stock shot up by as much as 3% in after-hours trading following the earnings release, but dipped back down somewhat and was up about 1% as of publication.
Source: Mashable
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