The social networking giant, Facebook, unveiled its results for the first quarter of 2013 and it sees an increase of 38 percent in revenue this quarter. However the most interesting aspect is the 30 percent contribution of mobile advertising.
The social media giant reported a revenue of $1.46 billion this quarter as compared to $1.06 billion in the same quarter last year. The revenue even surpassed the expectations of analysts at the Wall Street who had charted to be $1.44 billion this quarter.
Income in this quarter amounted to $219 million, or 9 cents per share, up from $205 million, or 9 cents per share, in the same period a year ago, when it was still private. Excluding special items, mainly related to stock compensation expenses, Facebook earned 12 cents per share, matching the average of analyst expectations, according to FactSet.
Even though investor were quite worried about Facebook’s ability to fare in mobile advertising since before its initial public offering in May 2012, the company reported that its mobile advertising revenue was 30 percent of its total ad revenue in the first quarter, amounting to $375 million. This was a 23 percent increase from $306 million, in the fourth quarter of 2012. Facebook started disclosing revenues from mobile advertisement in the third quarter last year which was 14 percent, or $153 million.
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