Facebook smash financial predictions

Facebook’s shares soared to a record high after its latest financial results smashed expectations and tripled last year’s profits.
The first quarter results beat analysts’ forecasts and reported net profits of $1.5bn compared to just over $500m in the same period last year.
Total revenue rose to $5.4bn from $3.5bn while Facebook’s daily active users hit 1.1 billion on average in March – up 16% – with those using mobile devices reached a record high of 989 million.

Mark Zuckerberg said “We had a great start to the year. “We’re focused on our 10-year roadmap to give everyone in the world the power to share anything they want with anyone.”

Facebook said that it was also making much more from mobile ad revenues.
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Facebook Advertising has taken time to become a profitable part of Facebook’s business but they seem to have cracked it. With their mobile usage is nearing the 1 billion mark it is really becoming one of the most effective and targeted way of hitting people on the move.
Find out more about Facebook Ads here >>

Written by Oli Yeates

CEO/Founder

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