Facebook
In results released on Wednesday, Facebook said its monthly active users rose 23% from a year ago to 1.11-billion, including 751-million who accessed the network on mobile devices.
Mobile ads accounted for 30% of advertising revenue for the quarter.
The profit adjusted for special items was just below market forecasts at 12 cents per share. But revenues were better than expected, rising 38% from a year ago to $1.46-billion, the California firm said.
"We've made a lot of progress in the first few months of the year," said Facebook chief executive Mark Zuckerberg, co-founder of the leading social network.
"We have seen strong growth and engagement across our community and launched several exciting products."
Company highlights during the first three months of this year included the launch of Facebook Home software that puts the social network centre stage on Android-powered smartphones and the launch of a set of new ad products.
Home adoption has been weak
Financial analysts are expected to seek answers from Facebook executives regarding indications that Home adoption has been weak and that there have been complaints from those using the software.
Facebook's share over the overall US online advertising market is expected to rise to 6.5% this year from 5.9% in 2012, according to industry tracker eMarketer.
Meanwhile, the overall US digital ad market surged 14.8% to $9.64-billion in the first quarter of this year, eMarketer reported.
Spending on advertising on mobile devices such as smartphone and tablets in the United States is expected to surge to by more than $3-billion to $7.29-billion this year, with Facebook's share growing to 13.2%, eMarketer forecast.
Facebook shares tumbled after its highly anticipated public offering a year ago and have been languishing since then.
The shares, which were offered last year at $38, lost 1.2% on Wednesday to stand at $27.43 and showed modest movements in after-hours trades. – AFP