Facebook achieved 82pc of Q1 revenues from mobile

27 Apr 2016627 Views

Facebook CEO Mark Zuckerberg. Facebook crushed it in the first quarter with revenues that soared past analyst expectations

In a period of poor financial results for most tech giants, Facebook has broken the mould by revealing revenues up 57pc to $5.3bn in the first quarter and profits of $1.5bn.

Facebook revealed that approximately 82pc of revenues in the first quarter came from mobile, up from 73pc of advertising revenue in Q1 2015.

The social networking giant reported earnings per share of $0.77, ahead of the $0.62 analysts had been expecting.

‘We’re focused on our 10-year roadmap to give everyone in the world the power to share anything they want with anyone’
– MARK ZUCKERBERG, FACEBOOK

Revenues of $5.38bn were also ahead of analyst expectations of $5.2bn.

The company revealed that it now has 1.65bn monthly active users and 1.09bn daily active users.

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Mobile daily active users were 989m for March 2016.

At the end of the first quarter, Facebook had $20.6bn in cash in its coffers.

“We had a great start to the year,” said Mark Zuckerberg, Facebook founder and CEO.

“We’re focused on our 10-year roadmap to give everyone in the world the power to share anything they want with anyone.”

Mark Zuckerberg image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years

editorial@siliconrepublic.com