Facebook has announced financial results for Q1 2016. The social network has recorded $5.38B in revenue and about 79 percent of that revenue came from mobile advertising.
Facebook’s user base is also multiplying and the platform now has over 1.65 billion monthly active users (MAU) as of March 31, 2016. This is a 15% YoY increase. Meanwhile, daily active users (DAUs) were 1.09 billion, an increase of 16% YoY. On the other hand, Mobile DAUs were 989 million, an increase of 24% YoY and Mobile MAUs were 1.51 billion as, an increase of 21% YoY.
The social network’s mobile advertising revenue represented approximately 82% of advertising revenue for the first quarter of 2016, up from 73% of advertising revenue in the first quarter of 2015. Capital expenditures for the first quarter of 2016 were $1.13 billion while cash and cash equivalents and marketable securities were $20.62 billion at the end of the first quarter of 2016.
Facebook CEO Mark Zuckerberg said in a statement,
Today, Facebook’s board of directors is announcing a proposal to create a new class of stock that will allow us to achieve both goals. I’ll be able to keep founder control of Facebook so we can continue to build for the long term, and Priscilla and I will be able to give our money to fund important work sooner. Right now, there are amazing scientists, educators and doctors around the world doing incredible work. We want to help them make a bigger difference today, not 30 or 40 years down the road.