Facebook Reports Healthy Q1 Earnings, Sees Boost in Mobile Ad Revenue
May 2, 2013 8:02 PM
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Mobile ad revenue accounted for about 30 percent of ad revenue
Facebook's financial earnings report for the first quarter of 2013 looks good, thanks in part to mobile ad revenue taking off.
For Q1 2013, Facebook earned $219 million (9 cents a share) in profit compared to $205 million in the year-ago period. Excluding certain items, the company earned 12 cents a share.
Facebook's revenue for the first quarter was $1.46 billion, up from $1.06 billion in Q1 2012. This was partially due to advertising revenue, which was up 43 percent in the first quarter from Q1 2012.
Facebook has had the challenge of adapting its business to mobile devices like smartphones and tablets rather than the traditional PC alone. It was necessary to create advertising space on mobile screens to boost revenue, and it looks like this has been working out for Facebook.
Mobile ad revenue accounted for about 30 percent of ad revenue, compared to 23 percent a year ago.
Facebook also had some big launches over the past few months, including
an Android app
that places Facebook's features right on the phone's homescreen. It launched last month for Samsung Galaxy S4, Samsung Galaxy S3, Samsung Galaxy Note 2, HTC One and HTC One X/X+. However, it received rather poor reviews.
revamped its news feed
and search options.
Facebook said it now has 1.11 billion monthly active users and about 665 million daily active users. The number of monthly users who solely access Facebook from mobile devices has more than doubled to 189 million compared to the year-ago quarter.
"We've made a lot of progress in the first few months of the year," said
founder and CEO. "We have seen strong growth and engagement across our community and launched several exciting products."
This article is over a month old, voting and posting comments is disabled
RE: This article is leaving out some critical facts.
5/4/2013 5:00:20 PM
Well, even if Facebook goes down. Mr. Zuckerberg will simply cash in his chips and retire in some exotic location sipping pina-coladas. What will most of the rest of us be doing? That's right- going to work again on Monday morning- just what I thought.
Like it or dislike it, they're increasing their revenue, which means they're doing something right.
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