Facebook's Revenue Beats Estimates As Mobile Use Continues to Boom

2 minute read
Chris Knight avatar

Social media giant Facebook has just reported earnings of $1.46 billion and a profit of $219 million as it continued to grow its global user base in the first quarter of 2013. Recent efforts have seen the company increasing its mobile focus as it aims to utilize its massive on-the-go user base.

Rolling out the Services

Last month Facebook generated some mild excitement for social media addicts with the arrival of Home on Android devices, putting user's social media streams on top of their smartphones. Since then it also acquired Parse for a greater mobile focus while rival Twitter embraced music and Google focused more on local information by bringing Now to iOS

The success, or otherwise, of these investments and initiatives will take some time to become clear, but they certainly are too late to make much contribution to today's Facebook numbers. The company has been making all these efforts to keep users active and get people abandoning their accounts back, with its rivals equally keen to convert users to their services. 

Tale of the Tape

Facebook's revenue came in at $1.46 billion, narrowly beating estimates from analysts of $1.44 billion. That's down though on last quarter's $1,585 billion, but was handily up on the year-over-year comparison. Earnings per share were in at $0.12, basically flat. Advertising revenue came in at $1.25 billion with 30% of that coming from mobile users. Overall the company turned a profit of $219 million for the quarter. 

Learning Opportunities

On the user front, Facebook added an extra 50 million users over the quarter, by its monthly active user count and daily active users were up from 618 million in December to 668 million in March. Mobile monthly users were up by over 80 million on the quarter to 751 million and up 54% year over year. 

That leaves the company in pretty good shape, if it is shedding users in the U.S. and U.K. as some reports suggest, it is making up for them elsewhere. We'll check in on the earnings call due to kick off soon and see if there's any exciting news. 

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