Facebook recently announced its earnings for the first quarter of 2013, and has outdone the expectations of analysts.
Despite an uneasy standing with Wall Street and what some believe has been a fairly tepid launch of Facebook Home, its mobile initiative, Facebook reported commendable figures for its financial performance in Q1.
The company’s revenue grew to $1.46bn, an increase of 38% against figures from the same period last year. Its number of Daily Active Users, as of March, grew by a quarter to 665 million. Similarly, Facebook’s Monthly Active User count grew to more than 1.1 billion.
Mark Zuckerberg, the company’s founder and CEO, lauded mobile platforms as the ‘saving grace’ of Facebook. The number of Monthly Active Users accessing the site from a mobile platform reached 751 million – a year-on-year growth of 54%.
While The Guardian recently reported that a number of Facebook users are defecting from the social network, a number of other sources have pointed out that it’s not yet making a dent on the company. Many businesses are still including Facebook into their internet marketing strategies, using the social network as a primary channel of engaging the consumer.
Facebook’s revenue from ads reportedly amounted to $1.25bn – representing 85% of the overall revenue and a year-on-year growth of 43%. Figures show that people are spending more time on Facebook than they were last year, and Zuckerberg has pointed out that Facebook is continuing to focus on the quality of its social ads.