Net income almost tripled to $642m, or 25 cents per share, from $219m, or nine cents, a year earlier. Revenues rose to $2.5bn, beating the average analyst estimate of $2.36bn.
The social network also said David Ebersman, chief financial officer, would step down on June 1. He will be succeeded by by David Wehner, who joined from Zynga in 2012.
Facebook has rapidly grown its mobile business. When it went public in 2012, the company made no money from members accessing their accounts via its mobile website or smartphone apps.
As well as building a mobile advertising business from scratch, Facebook has also sought to guarantee its share of public attention is maintained as the shift from computer screens to smartphones and tablets gathers pace.
The company’s acquisition of the photo sharing app Instagram for $1bn prior to its flotation raised eyebrows but has since been dwarfed by the $19bn deal for the instant messaging app WhatsApp in February.
Mark Zuckerberg has indicated that Facebook intends to keep the two acquisitions as separate brands, part of a broadening of the company’s focus to cope with the more competitive mobile internet landscape. While the Facebook website acts as an all-in-one communications tool and is dominant, the company plans to maintain a suite of specialist mobile apps, both acquired and developed in-house, to be better able to compete with new rivals that spring up on smartphone screens.
Facebook is also expected to expand its non-advertising businesses in the next few quarters. It is believed to be preparing an international money transfer service, for instance.
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