Facebook released its earnings report for Q1 2014 posting revenue of $2.5 billion, which is an increase of 76 percent since 2013. The social network exceeded Wall Street expectations which were between $2.36 and $2.4 billion. Facebook’s mobile ads represented 59 percent of its total ad revenue in the first quarter, up from 30 per cent in the year-ago period. The company’s revenue from advertising was $2.27 billion, up 82% over that time.
Giving insights about its ever growing users base Facebook said that it had 1.28 billion monthly active users as of March 31, 2014 which was up by 15 percent last year. Out of these 1.28 billion users, 1.01 billion monthly active users access Facebook from their mobile.
Furthermore, the company reported 802 million daily active users (up 21 percent from last year) and 609 million daily mobile users (up 43 percent from last year). Compared to Q4 of 2013, Facebook’s total active users are up 4 percent, total daily users are up about 6 percent, and total daily mobile users are up 9.5 percent.
Facebook had an eventful quarter as it acquired WhatsApp for $19 billion in February and virtual reality company Oculus Rift in March. Along with the earnings, Facebook also reported that its CFO David Ebersman will step down and be replaced by Facebook VP David Wehner.
Via:Forbes