Facebook Posts a Solid Quarter

Facebook said its revenue in the first quarter rose 38% year-on-year to 1.46 billion US dollars. The California-based company said revenue from advertising was 1.25 billion dollars, up 43% year-on-year, while mobile advertising revenue represented approximately 30% of advertising revenue. Payments and other fees revenue was 213 million dollars in the first quarter.

The social network said daily active users rose 26% year-on-year to 665 million on average for March 2013, while monthly active users rose 23% year-on-year to 1.11 billion as of March 31. Facebook also reported that recently-acquired Instagram reached 100 million monthly active users in the first quarter of 2013. source: Facebook statement