Facebook’s recent quarterly earnings report surpassed expectations – a whopping 10 percent higher than industry predictions.
Analysts had expected Facebook to report earnings of about 62 cents per share on $5.26 billion in revenue, but Facebook reported adjusted first quarter earnings of 77 cents per share on revenue of about $5.38 billion. Further, Wall Street expected a year-over-year quarterly revenue increase of about 48 percent, and Facebook delivered an increase of 52 percent.
Most of that growth is attributable to Facebook’s $5.2 billion in advertising revenue. Mobile ads accounted for 82 percent of total ad revenue in the quarter.
Due to the stability of the company performance, shares of Facebook are due to reach an all-time high share price of $117.59 in the coming days.
“As a company that controls several of the top social mobile apps, Facebook’s continued strength and ad-revenue growth is good news for the mobile industry as a whole. The company has demonstrated the efficacy of in-app mobile ads, and the power of mobile app monetization when done well,” said Dale Carr, CEO and founder of Leadbolt.
That’s not the only good news. In June, the company will vote on a proposed structural change to its shares that is designed to keep Zuckerberg at the helm of the company. His leadership has been key to making long-term strategic decisions for Facebook.
“This proposal is designed to create a capital structure that will, among other things, allow us to remain focused on Mr. Zuckerberg’s long-term vision for our company and encourage Mr. Zuckerberg to remain in an active leadership role at Facebook,” the company said in its earnings release.
Facebook continues to dominate the social and mobile media space: Zuckerberg said people around the world spend on average more than 50 minutes per day on Facebook, Instagram and Messenger — and that’s not even including WhatsApp.