Facebook on Wednesday published its first quarter 2013 earnings report. Wall Street analysts were predicting revenue of $1.44 billion and an earnings per share of $0.13. The company reported revenue of $1.46 billion for the quarter and an earnings per share of $0.12, missing predictions from Wall Street on the earnings per share side (the bottom line).
That’s in comparison to the company’s fourth quarter 2012 results, in which the social network reported revenue of $1.59 billion and an EPS of $0.17. At the time, that represented a 40 percent increase over the revenues generated during the fourth quarter of 2011 and a 14 percent increase in mobile revenue. In Q1 2012 Facebook posted revenue of $1.06 billion.
“We’ve made a lot of progress in the first few months of the year,” said Mark Zuckerberg, Facebook founder and CEO. “We have seen strong growth and engagement across our community and launched several exciting products.”
The company said it’s daily active users during the quarter were 665 million people, up 26 percent year on year. Its monthly active users came in at 1.1 billion, up 23 percent year-on year. It’s mobile monthly active users came in at 751 million, up 54 percent year-over-year. By comparison, Facebook had 1.06 billion monthly active users, 618 million daily active users and 680 million mobile monthly active users in the fourth quarter of 2012.
Facebook also said that Instagram, which it acquired for $1 billion, now has 100 million active monthly users. The company has not yet commented on the success of Facebook Home, which launched last month in tandem with the HTC First.
The social network noted that its current head of accounting David M. Spillane plans to leave the company and he will be replaced by Jas Athwal on May 10.
Facebook is currently trading down 1.89 percent at $26.90 per share in after hours trading. The company closed the day at $27.42, down 1.26 percent in day trading.