Facebook Reports Hefty Earnings, 1 Billion Mobile Users
Facebook has reached the big milestone for mobile users as well
Facebook has had quite an awesome first quarter in 2014. The company posted its earnings report revealing revenues of $2.5 billion (€1.8 billion) and a profit of $1.07 billion (€773 million).Compared to last year’s results, when Facebook raked in $1.45 billion (€1.05 billion) in revenues and a mere $373 million (€270 million) in profit, this quarter’s results are indefinitely more impressive.
The company has also revealed just how much money it makes per user. According to Facebook’s report, in the United States and Canada, the social network makes $5.18 (€3.74) in annual advertising revenue per user, 80 percent over the results from 2012.
Quite importantly is the fact that Facebook now has 1.28 billion monthly active users, out of which over 1 billion also access the platform via a mobile device. It’s quite an increase over last year’s results with an extra 180 million new users and over 250 million monthly mobile users. In fact, this is the first time that the number of users accessing Facebook through a smartphone or tablet has reached the 1 billion mark.
WhatsApp, a mobile messaging service that Facebook bought for $19 billion (€13.7 billion) earlier this year continues to grow independently.
David Ebersman, Facebook’s chief financial officer, will be stepping down after guiding the company through the disastrous IPO of 2012. His place will be taken by David Wehner, former Zynga CFO and second finance exec at Facebook up until now.