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Facebook 1Q earnings, revenue grow, mobile ads up

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Willmar Minnesota 2208 Trott Ave. SW / P.O. Box 839 56201

MENLO PARK, Calif. (AP) -- Facebook says its net income and revenue grew in the first quarter of the year, helped by an increase in mobile ad revenue.

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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.

Revenue grew 38 percent to $1.46 billion from $1.06 billion. FactSet says analysts expected revenue of $1.44 billion.

Excluding special items, mainly related to stock compensation expenses, Facebook earned 12 cents per share, matching analysts' expectations.

Menlo Park, Calif.-based Facebook says its mobile advertising revenue represented 30 percent of the total at $375 million. That's up from 23 percent in the fourth quarter.

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