Facebook Cashes on Mobile Ads, Reports $1.5 Billion Q1 Revenues
By Frances Samson | May 2, 2013 2:07 PM EST
The world's most patronized social networking site, Facebook, reported an amount of $1.5 billion in revenue for the first quarter of 2013, higher than the $1.1 billion posted in the same quarter last year.
The company's profit increased from $219 million from last year's $205 million.
According to Facebook, it is the company's mobile ads that account for as much as 30 percent of its advertising revenue for the first quarter, a marked increase from the 23 percent recorded in the fourth quarter of 2012. The mobile ads are a heavily favoured and monitored metric of the social networking's site potential.
While the mobile number is well-liked by analysts, they however were one in the opinion that Facebook's profit is still a bit shy compared to the company revenue which hit the high mark.
According to Facebook's founder and CEO, Mark Zuckerberg,"We've made a lot of progress in the first few months of the year.
"We have seen strong growth and engagement across our community and launched several exciting products."
To contact the editor, e-mail:
Most Popular Slideshows
- Malaysia Airlines Flight MH17: King Williem-Alexander, Queen Maxima Hold Solemn Reception Ceremony for Victims
- Jennifer Lawrence & Nicholas Hoult Allegedly Split: Mad Max Actor Cheats with Kristen Stewart & Riley Keough - Reports
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Typhoon Matmo Leaves 32k Customers w/o Electricity in Taiwan, Weakens After Landing in China
Join the Conversation
- Apple iPhone 6 on Two Confirmed Release Dates, New Parts Leaked Suggesting Bigger iPhone to Come
- Google Nexus 6, 8 with Android L on Release Date Promises Killer Mobile Device Experience
- iPhone 6 Release Date Relevance to iOS Newbies: Specs Meaning, Price Considerations
- Xiaomi Mi4 vs OnePlusOne vs Nexus 5: Mi4 is the ‘Perfect’ Phone
- Israeli Women Stripping Naked for IDF Soldiers
- HTC One M8 Android 4.4.3 KitKat Update Roll Out, Introducing the HTC One Remix
- The Pirate Bay Releases ‘The Mobile Bay’: Mobile Torrent Download Made Easier but Remains Illegal