Finance

Facebook Users, Profits Up For Q1

Daily Active Users Up 26%, Monthly Mobile Users Jump 54% 5/01/2013 5:09 PM Eastern

In its first quarter 2013 earnings, Facebook reported strong gains in users, with particular progress on the closely watched mobile front.

Revenue jumped by 38% to $1.46 billion, with ad revenue getting a 43% bounce to $1.25 billion. Mobile ad revenue accounted for about 30% of total ad revenue.

Profits rose slightly by 6.8% to $219 million, for 9 cents of earnings per share or 12 cents of adjusted earnings per share that excluded stock-based compensation and some other items.

Analysts had been expecting revenue of $1.44 billion and adjusted earnings of 13 cents a share, The Wall Street Journal reported, citing an analyst poll by Thomson Reuters.

In after-hours trading at 6:15 p.m. ET, the stock was down slightly by 1.22%.

But the earnings report had generally positive news for investors who had been worrying about Facebook's ability to capitalize on the ongoing shift of users from PCs to mobile, which is harder to monetize, and worries that users might be getting bored with the platform.

Monthly mobile users hit 751 million on March 31, up 54% from the same period in 2012, while total monthly active users grew 23% to 1.11 billion.

Daily active users grew 26% to 665 million from a year earlier.