Facebook has released its financial results for the first three months of 2013, showing US$375 million of revenue was generated by mobile advertising.
Mobile advertising accounted for around 30 per cent of its total advertising revenue, compared with 23 per cent in the same period last year.
Mark Zuckerberg, co-founder and chief executive of Facebook, said: “What we have seen has made us more confident we can do more with advertising over time.”
Despite strong results in mobile, Facebook’s share price fell around one per cent to US$27.43 before rising slightly to close at US$27.51 on Wednesday.
Around two thirds of Facebook’s 1.1 billion users log on with their mobiles and executives pointed to strong growth in densely populated countries such as India and Brazil.
Sheryl Sandberg, Facebook’s chief operating officer, said: “We want content in ads that’s as good as content from a friend or somewhere else on the site, as well as to have a higher return for marketers.
“Those go hand in hand. What you’ll see from us is better targeting.”
