Facebook’s revenue grows 72% in Q1

Washington, Apr. 24: Facebook’s total revenue jumped 72 percent to 2.5 billion dollars, topping estimates for 2.36 billion dollars.

It’s Q1 2014 earnings show it beat expectations, earning 2.5 billion dollars in revenue with 0.34 dollars EPS.

The social networking site has 1.28 billion total monthly users, 802 million daily users, and 609 million daily mobile users, TechCrunch reports.

Facebook continued to become a mobile ad company with 59 percent of ad revenue coming from portable devices.

Wall Street had expected 2.36 billion dollars in revenue and earnings of 24 cents per share.

Compared to Q4 in 2013, Facebook’s total user count is up four percent from 1.23 billion total monthly users, total daily user count is up 5.9 percent from 757 million, and daily mobile user count is up 9.5 percent from 556 million, the report said.

Total ad revenue hit 2.27 billion dollars, up 82 percent from a year ago.

Payments revenue, including games and apps reached 237 million dollars this quarter, down slightly from 241 million dollars during the holiday Q4, the report added. (ANI)