DHAKA: Facebook reported first-quarter revenue of USD 2.50 billion, representing a significant year-on-year increase of 72 percent from USD 1.46 billion.

Revenue from advertising rose 82 percent to USD 2.27 billion, with mobile representing approximately 59 percent of advertising revenue, up from 30 percent a year ago. Payments and other fees revenue totalled USD 237 million.

Costs and expenses in the quarter rose 32 percent to USD 1.43 billion, driven primarily by increased headcount and infrastructure expense.

Operating profit surged 188 percent to USD 1.08 billion from USD 373 million a year ago, and the operating margin was 43 percent, up from 26 percent.

Income tax expense was USD 433 million, representing a 40 percent effective tax rate.

Net income rose 193 percent to USD 642 million from USD 219 million in Q1 2013, and EPS increased 178 percent to USD 0.25.

Capital expenditures were USD 363 million. The company ended the quarter with cash and marketable securities of USD 12.63 billion and free cash flow of USD 922 million.

Facebook’s first-quarter daily active users were 802 million on average, representing an increase of 21 percent. Mobile DAUs rose 43 percent to 609 million on average.

Monthly active users (MAUs) increased 15 percent to 1.28 billion, and mobile MAUs in the quarter were up 34 percent to 1.01 billion.

Facebook also announced that its CFO David Ebersman will step down and be succeeded from 01 June by David Wehner, currently Facebook’s VP for Corproate Finance and Business Planning.

Ebersman will remain at the company through September to support the transition, reports telecompaper.com.

BDST: 1631 HRS, APR 24, 2014