Since going public in May 2012 and yielding the largest Internet IPO ever, Facebook has seen more than just gains in users. The company released its first quarter earnings Wednesday, providing industry watchers with the first year-over-year look at the company.
The social network’s revenue grew to $1.458 billion in the first quarter of 2013, an increase of $400 million or 38 percent. In addition to seeing financial gains, the number of people actively using the site has increased—daily active users (DAUs) grew by 26 percent to an average of 665 million in March. Similarly, the number of monthly active users (MAUs) grew to 1.11 billion, an increase of 23 percent year-over-year, while mobile MAUs grew 54 percent to 751 million during the same period.
“We’ve made a lot of progress in the first few months of the year,” Mark Zuckerberg, Facebook founder and CEO, says in a release. “We have seen strong growth and engagement across our community and launched several exciting products.”
In addition to Facebook gains, the company’s photo sharing and filtering platform, Instagram, reached 100 million monthly active users in the first quarter of 2013. There are no year-over-year results posted in the financial report, as Facebook acquired the property for $1 billion in April 2012. At the time of the acquisition the number of Instagram MAUs was estimated to be at more than 30 million.
Advertising is Facebook’s biggest source of revenue, climbing to $1.25 billion, or 85 percent of total revenue and a 43 percent increase from the same quarter last year. Mobile advertising revenue is also on the rise, making up 30 percent of all of the company’s first quarter ad revenue.