Facebook profits tripled to $642m as revenues soared 72% in the first quarter of 2014, with the company continuing to shift its customers – and advertisers – to its mobile platform.
Comfortably beating analysts’ expectation the company said Wednesday that it had revenue of $2.5bn (£1.5bn) in the first quarter. Revenue from advertising totalled $2.27bn, an 82% increase from the same quarter last year. Mobile advertising revenue represented approximately 59% of ad revenue for the first quarter of 2014, up from approximately 30% in the first quarter of 2013.
Facebook said it had 1.28bn monthly active users at the end of March, up 15% year-on-year.The number of mobile monthly active users in March was 1.01bn, up 34% year-on-year.
Read the rest at Facebook profits triple as revenues surge on mobile platform success | Technology | theguardian.com.
