Facebook soars in Q1; ad revenue up 57%

The world’s largest social media network showed its chops in the first quarter, reporting impressive increases in revenue, earnings and users that shattered analysts’ expectations.



Facebook reported $2.2 billion in profit for the quarter, ended March 31, up from $1.8 billion in the year-ago period. Revenue totaled $5.38 billion, up 52% over the year ago period.



Almost as impressive as Facebook’s financial metrics were its monthly active users metrics (MAUs), which totaled 1.65 billion at the end of the first quarter. Wall Street had estimated 1.63 billion.



And reflecting the growing dominance of mobile, Facebook’s mobile MAUs rose 21% over the year ago period to 1.51 billion at the end of the quarter, also better than Wall Street expected.



Facebook's jump in revenue is credited to a 57% increase in advertising revenue, which came in at $5.2 billion, higher than the Street forecast. Mobile showed its power here too, with mobile ads up 73% over the year ago period.



Mobile advertising accounted for about 82% of total ad revenue in the quarter.