Business

Facebook 1Q earnings, revenue grow, mobile ads up

NEW YORK — Facebook’s net income and revenue grew in the first quarter of the year, helped by an increase in mobile ad revenue, a figure that some skeptical investors have been watching closely.

Facebook Inc. said Wednesday that its net income was $219 million, or 9 cents per share, in the January-March period. That’s up from $205 million, or 9 cents per share, in the same period a year ago when the company was still private.

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Revenue grew 38 percent to $1.46 billion from $1.06 billion, surpassing analysts’ expectations of $1.44 billion.

Excluding special items, mainly related to stock compensation expenses, Facebook earned 12 cents per share, matching the average of analyst expectations, according to FactSet.

Facebook said mobile ad revenue was 30 percent of its total ad revenue, amounting to $375 million. That’s up from 23 percent, or $306 million, in the fourth quarter.

Investors had been worried about Facebook’s ability to grow mobile revenue since before its initial public offering. The number of people who access Facebook on smartphones and tablet computers is growing quickly, but Facebook didn’t begin showing ads to mobile users until last year.

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