Övünç Kutlu
April 28, 2016•Update: April 28, 2016
NEW YORK
Facebook's quarterly income and revenue soared in the first quarter, the company announced Wednesday.
Net income came in at $1.51 billion, up from $512 million the same period a year ago, while revenues increased to $5.38 billion from $3.54 billion.
Diluted earnings per share increased to $0.52, from $0.18.
Advertisement revenues jumped to $5.20 billion from $3.32 billion, while daily active users of the social media provider also saw gains.
Daily active users of Facebook were 1.09 billion on average in March, an increase of 16 percent from a year ago, while 989 million of those were mobile users, which increased 24 percent.
Meanwhile, monthly active users numbered 1.65 billion as of March 31, an increase of 15 percent, as a massive 1.51 billion were mobile users, which is a 21 percent increase compared to the same time a year ago.
"We had a great start to the year," Mark Zuckerberg, Facebook founder and CEO, said in a statement.
"We're focused on our 10-year roadmap to give everyone in the world the power to share anything they want with anyone," he added.
Facebook's stock jumped more than 9 percent in after hours trading Wednesday following the quarterly results.
