Facebook on Wednesday beat analyst expectations for revenue in its first quarter earnings and showed slight growth in the increasingly important mobile advertising space. The world’s largest social network reported revenue of $1.46 billion, a 38 percent bump from the same time a year ago. Net income jumped to $219 million, a 6.8 percent increase. Revenue from advertising accounted for $1.25 billion, or 85 percent of total revenue. Wall Street had expected Facebook to bring in $1.44 billion in revenue.
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Facebook Revs Its Mobile Ad Engine in Q1
Posted by: Rachelle Dragani May 2, 2013 11:31 AMFacebook on Wednesday beat analyst expectations for revenue in its first quarter earnings and showed slight growth in the increasingly important mobile advertising space. The world’s largest social network reported revenue of $1.46 billion, a 38 percent bump from the same time a year ago. Net income jumped to $219 million, a 6.8 percent increase. Revenue from advertising accounted for $1.25 billion, or 85 percent of total revenue. Wall Street had expected Facebook to bring in $1.44 billion in revenue.