Facebook Shows Solid Earnings as Mobile Ads Trend Up
The huge social network brought in $1.458 billion in the first three months of 2013, compared with $1.585 billion in Q4 2012; profits were also down slightly.Facebook reported its second-best fiscal quarter as a public company on May 1, and even though its revenue tailed off a bit from the previous quarter, the company's Q1 2013 earnings were generally on target with Wall Street projections. The Menlo Park, Calif.-based social network brought in $1.458 billion in the first three months of 2013, compared with $1.585 billion in Q4 2012. Profits totaled $213 million, compared with $256 million in the last financial period. Facebook banked earnings per share of 12 cents. Revenue grew 38 percent compared with the same quarter a year ago. Wall Street analysts had predicted revenue of $1.44 billion and 13 cents per share, so Facebook exceeded the first figure and missed the second by a penny.
The company's newly revamped mobile advertising accounted for some 30 percent—or about $375 million—of its ad revenue for the quarter. Total revenue from advertising came out to $1.25 billion, or 85 percent of total revenue.