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Social network giant Facebook on Wednesday reported a significant surge in its user base as well as advertising revenue from its mobile service in the first quarter of this year.
The company reported that a significant share of its 1.44 billion users and about three-quarters of its revenue from advertising came from smartphones and other mobile devices during the first quarter.
According to the analysts, Facebook is making healthy business out of its mobile service as compared to its traditional website format. Moreover, the world’s largest social network website company is expected to make a similar transition from the regular text format to the video one.
Reports show that Facebook’s existing users are already watching four billion videos per day, i.e. an average of four per person.
Internet analyst Mark Mahaney, from RBC Capital Markets, said, “More than any other firm right now, Facebook is the single biggest beneficiary of this shift to video and mobile. This growth is going to be more sustainable than people realize.”
The company reported revenue of USD 3.54 billion in the quarter, a surge of 42 percent from the USD 2.5 billion it brought in during the same period in 2014.
The net income of Facebook was USD 512 million, or 18 cents per share, compared with USD 642 million, or 25 cents per share, in 2014.