It looks like Facebook's goal of becoming a "mobile first" company is nearing its fruition. The social networking giant has reported its first quarter earnings for the year, and it is, so far, looking good.
Facebook revealed that it has 751 million active mobile users in the first quarter of 2013, a 54% increase over last year. Today, the social network disclosed its first quarter earnings for the year at $1.25 billion with 30% ($75 million) coming from mobile.
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Several analysts have forecasted Facebook’s rising ad revenue from mobile this year. Sterne Agee analyst Arvind Bhatia anticipated $360 million in mobile advertising revenue while JP Morgan analyst Doug Anmuth put the figure around $320 at the least. Facebook’s earnings from mobile ad revenues last quarter was $305 million.
Facebook’s data on mobile monthly active users (mobile MAUs) show a steady rise from last year with a 32 million increase from the previous quarter and 106 million increase from last year, translating to a growth of 127 per cent.
The growing number of Facebook mobile users (751 million) is significant, as it is the second consecutive quarter more users have accessed Facebook on their mobiles than from the Web (665 million). Facebook recently conducted a study where using Facebook (70%) rated only below checking email (78%) and Web browsing (73%).
Some believe that the key to Facebook’s growing revenue is in its mobile app install ads, which is continually being developed to better target audiences. Last March the ad format was updated to help developers customize ads based on mobile devices’ OS, Wi-Fi, and data connections. The company says it will continue to invest in its ad serving and measurement platforms.