Facebook has reported a 38% rise in its year on year revenue to $1.45bn for the first quarter of 2013 boosted by new advertising products.
During the quarter, the company’s net income increased 7% to $219m, or $0.09 diluted earnings per share, compared to $205m, or $0.09 diluted earnings per share, for the same period last year.
Revenue from advertising grew 43% to $1.25bn for the quarter and mobile advertising revenue represented about 30% of advertising revenue.
The company said it has launched new advertising products such as Lookalike Audiences, Managed Custom Audiences, and Partner Categories.
As of 31 March 2013, the company had 1.11 billion monthly active users (MAUs), an increase of 23% year-over-year.
Mobile MAUs were 751 million in the quarter, an increase of 54% year-over-year, and the company’s Instagram unit reached 100 million MAUs.
Facebook founder and CEO Mark Zuckerberg said the company made a lot of progress in the first few months of the year.
"We have seen strong growth and engagement across our community and launched several exciting products," Zuckerberg said.
Last month, Facebook introduced its Home app for the UK users, which would allow the social networking firm sit on the home screen of Android powered phones.
