Facebook 1Q earnings, revenue grow, mobile ads up

Facebook 1Q  earnings, revenue grow, mobile ads up

Credit: Getty Images

MENLO PARK, CA - APRIL 04: A Facebook employee holds a phone that is running the new "Home" program during an event at Facebook headquarters during an event at Facebook headquarters on April 4, 2013 in Menlo Park, California. Facebook CEO Mark Zuckerberg announced a new product for Android called Facebook Home as well as the new HTC First phone that will feature the new software. (Photo by Justin Sullivan/Getty Images)

Print
Email
|

KMOV.com

Posted on May 2, 2013 at 9:47 AM

Updated Thursday, May 2 at 9:57 AM

MENLO PARK, Calif. (AP) -- Facebook says its net income and revenue grew in the first quarter of the year, helped by an increase in mobile ad revenue.

   Facebook Inc. said Wednesday that its net income was $219 million, or 9 cents per share, in the January-March period. That's up from $205 million, or 9 cents per share, in the same period a year ago when the company was still private.

   Revenue grew 38 percent to $1.46 billion from $1.06 billion. FactSet says analysts expected revenue of $1.44 billion.

   Excluding special items, mainly related to stock compensation expenses, Facebook earned 12 cents per share, matching analysts' expectations.

   Menlo Park, Calif.-based Facebook says its mobile advertising revenue represented 30 percent of the total at $375 million. That's up from 23 percent in the fourth quarter.
 

Print
Email
|