Facbook has reported first quarter ad revenue for 2014 of $2.27 billion, an increase of 82% compared with the same period last year.
The increase is largely thanks to a surge in mobile advertising which has seen revenue leap 30% over the last 12 months, representing around 59% of total ad revenue for the first quarter of 2014.
Commenting on the results, Mark Zuckerberg, Facebook founder and CEO, said: “Facebook’s business is strong and growing, and this quarter was a great start to 2014.
“We’ve made some long term bets on the future while staying focused on executing and improving our core products and business. We’re in a great position to continue making progress towards our mission.”
Total revenue for the first quarter of 2014 amounted to $2.5 billion, an increase of 72%, compared with $1.46 billion in the first quarter of 2013.
The news comes as Facebook announced that David Ebersman is to step down as chief financial officer after almost five years in post. On June 1 he will be succeeded as CFO by David Wehner, currently Facebook’s vice president, corporate finance and business planning.
Wehner joined Facebook in November 2012 from Zynga, where he served as CFO.
“David has been a great partner in building Facebook, and I’m grateful for everything he’s done to help make the world more open and connected,” said Zuckerberg. “David set us up to operate efficiently and make the long term investments we need, and built an incredibly strong team including Dave Wehner, our next CFO.”
