Mobile ads buoy Facebook profit

AFP-JIJI

Facebook profit in the first quarter of this year climbed as it used its grip on people’s online social lives to challenge Google and Apple for revenue from mobile ads and apps.

Money from mobile advertising helped Facebook boost its first-quarter profit 58 percent from a year ago to $217 million, and to lift revenue past market forecasts, according to earnings results released Wednesday.

Facebook said its monthly active users rose 23 percent from a year ago to 1.11 billion, including 751 million who accessed the network on mobile devices. Mobile ads accounted for 30 percent of advertising revenue for the quarter.