Usage of Facebook’s social media platform continued to expand during the first quarter with mobile advertising now accounting for 59% of the company’s revenue.
Facebook’s revenues grew 72% to $2.5 billion from $1.5 billion and earnings increased to 25 cents a share from 9 cents a share with operating margins expanding to 43% from 26%. The company also highlighted the fact that mobile advertising revenue now accounts for 59% of total revenue compared to 30% during the same period the prior year.
"Facebook's business is strong and growing, and this quarter was a great start to 2014," said Mark Zuckerberg, Facebook founder and CEO. "We've made some long term bets on the future while staying focused on executing and improving our core products and business. We're in great position to continue making progress towards our mission."
Usage of the Facebook platform continued to grow across a range of metrics the company tracks. Daily active users during March increased 21% to 802 million, with mobile daily active users increasing 43% to 609 million. Monthly active users stood at 1.28 billlion, a 15% increase from the prior year with mobile monthly active users up 34% to slighly more than one billion.