Facebook's first-quarter earnings report was jam-packed with big numbers.
Wednesday, the social network handed in its quarterly report card, informing Wall Street that it brought in $2.5 billion in revenue during the first three months of 2014. Facebook also mentioned in the report that it now has a monthly audience of 1.28 billion people across desktop and mobile, and 1.01 billion on mobile alone.
Members have been migrating to the social network's mobile app since before Facebook's May 2012 initial public offering. At the time, members' switch to smartphone social networking was problematic as Facebook had yet to figure out how to monetize their attention. Today, it's a much different story as the social network runs ads in the mobile News Feed and, as of the end of the first quarter of 2014, makes 59 percent of its advertising revenue from its mobile services.
Here are some additional highlights from Facebook's first-quarter report:
- 1.28 billion monthly active users (MAUs), growing 15 percent year over year.
- 1.01 billion mobile MAUs at quarter's end.
- 341 million mobile-only MAUs.
- 802 million daily active users (DAUs), up 21 percent from the same quarter last year.
- Mobile DAUs were 609 million, growing 43 percent year over year.
- Revenue of $2.5 billion in the first quarter, an increase of 72 percent over the first quarter of 2013.
- First-quarter revenue from advertising was $2.27 billion.
- 59 percent of advertising revenue, or $1.34 billion, came from mobile.
- Revenue from payments and other fees was $237 million in the quarter.
- Average revenue per user is $2.
- Facebook reported adjusted earnings per share of 34 cents in the first quarter.
- Net income on a GAAP basis was $642 million, up 193 percent from the same period in 2013. Net income on a non-GAAP (adjusted) basis was $885 million.