Facebook Mobile Users Passes 1 Billion In 1Q 2014; Report Shows Jump Of 34% In From Last Year, Beats Wall Street Expectations

Facebook mobile users have passed the 1 billion mark, according to the company’s most recent report. The social network giants, to be exact, have 1.01 billion mobile users on a monthly basis, up from 34% last year. The figures beat analysts expectations on the company’s mobile user base.

“People are moving to mobile, and Facebook is one of the favorite apps,” says Cathy Boyle, analyst for eMarketer.

The company also reported $2.5 billion revenue for the quarter, a 72% increase over revenues from 1Q 2013. The number was slightly lower than the $2.56 billion Facebook earned during the company’s record-breaking 2013 Q4 report.

Thanks to a new mobile ad network in-development, Facebook is counting on mobile more than ever. More than half or 59% of Facebook’s revenue came from mobile in just the reported first quarter. It is a leap of 29% from 1Q of 2013, a report by Phone Arena notes. Overall, ad revenue for the company rose 82% year-over-year.

Figures reported by Facebook on its earning and user base will seemingly make Wall Street a lot less nervous about a $19 billion acquisition made by Facebook on WhatsApp, since analysts now see that “Zuckerberg’s got a plan.”

The strategy, as these key milestones are announced, is more and more likely having a very strong focus on the mobile space. Mobile is where people are going and according to reports, an average American spent over 3 hours on a mobile device in 1Q, up from two hours and twenty minutes a day in the first quarter of 2013