Facebook revenue, profit grow in first quarter

Also, 1.11 billion people actively use site each month

Facebook's profit and revenue grew in the first quarter of 2013, boosted by an increase in mobile advertising.

The company's revenue jumped 38 percent from the same time last year, from $1.06 billion to $1.46 billion, although its profits increased only 7 percent, from $205 million to $219 million, according to its SEC filings.

The company attributed its relatively small profit increase to a 60 percent jump in expenses related to infrastructure and hiring, which cost the company $1.08 billion.

"We've made a lot of progress in the first few months of the year," said Mark Zuckerberg, Facebook founder and CEO. "We have seen strong growth and engagement across our community and launched several exciting products."

Mobile advertising revenue accounted for 30 percent of the Menlo Park-based social networking site's total revenue. In the previous quarter, mobile advertising revenue accounted for about 23 percent of Facebook's revenue, and in the quarter before that, 14 percent.

Last month, the company debuted Facebook Home, a mobile launcher app for Android-based devices that puts Facebook features on device home screens.

The company said its user base has grown, too. It reports that it now has 1.11 billion monthly active users and 665 million daily active users.


There are no comments yet. Please share yours below.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Choose a category: *

Since this is the first comment on this story a new topic will also be started in Town Square! Please choose a category that best describes this story.

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Cho's, beloved dim sum spot, to reopen in Los Altos
By Elena Kadvany | 8 comments | 5,633 views

Why I Became Active in Palo Alto Forward
By Steve Levy | 10 comments | 2,162 views

Early Decision Blues
By John Raftrey and Lori McCormick | 0 comments | 1,677 views

What Are Menlo Parks Priorities?
By Erin Glanville | 15 comments | 788 views

Water Torture
By Paul Bendix | 1 comment | 377 views