The social media giant Facebook reported on Wednesday a massive boost in mobile advertising revenue, which could go a long way in easing fears from investors over the Menlo Park company’s future growth.
There have been growing doubts over the social network’s ability to sell adverts on mobile devices, not least due to their small screen size. Investors had feared that its growth may be hurt as a result.
However, Facebook said 30 percent of its $1.25 billion advertising revenue in the first quarter came from mobile.
It reported a net profit of $219 million for the January to March quarter.
“We’ve made a lot of progress in the first few months of the year,” said Facebook’s founder Mark Zuckerberg.
But increased spending on infrastructure, together with the fact the firm now employs more people than it did a year ago, contributed to a 60 percent jump in costs and expenses to $1.1bn in the quarter.