Facebook posted Q1 earnings close to expected numbers, raking in about $3.54 billion in revenue, and earnings per share (EPS) of $0.42. Its total income after taxes totalled $512 million.
Posted revenue was slightly lower than the $3.56 billion that the street had expected, while EPS was higher than the $0.40 that was expected.
Facebook’s user growth has kept growing, albeit at a slightly slower pace than before. The social network giant reported 1.44 billion monthly active users, with mobile monthly users totalling 1.25 billion. Mobile advertising accounted for roughly 73% of total advertising revenue in the quarter.
The company reported that daily videos watched on Facebook were 4 billion a day. Video ads and in-app mobile app advertisements have proved to be a lucrative source of income for Facebook.
CEO Mark Zuckerberg, during the quarterly conference call, also took the opportunity to highlight the growing impact of text messaging and voice calling on the social network’s messaging services, such as WhatsApp and Messenger. The company introduced a new app called Hello that aims to improve messaging even further.
The company’s income was slightly lower than expected because Facebook reported that it had boosted its spending this past quarter.