Facebook posts Q1 results

Worldwide data harvesting operation, Facebook, has reported a decent 38 percent boost in first quarter revenue thanks in part to improving its performance in mobile ads.

Profit was $219 million, up slightly from $205 million the same time last year. Mobile advertising carved up roughly 30 percent of total income, an increase from 23 percent on the previous quarter.

Advertising revenue sat at $1.25 billion and represented an enormous 85 percent of total revenue, up 43 percent year on year. Payments and other fees revenue for the quarter was $213 million.

In its earnings report, it listed the company’s purchase of Instagram under recent business highlights, pointing out that the photo-sharing app reached 100 million monthly active users for the first quarter. The appointment of the University of California, San Francisco chancellor Susan D Desmond-Hellman was also listed as a highlight.

Daily active users were 665 million on average for March 2013, up 26 percent year on year, while monthly active users were 1.11 billion as of 31 March 2013, up 23 percent from the same time last year.

With the proliferation of smart devices, monthly active mobile users grew 751 million – or a boost of 54 percent compared to the same time last year.