Mobile advertising drives Facebook revenue

Facebook says 30% of revenue now comes from mobile advertising, as the site finds new ways to increase profits.

Released the company's first quarter financial results for 2013, ending March 31, the social media giant reported a 38% rise in revenue to US$1.46bn, stemmed from mobile ads.

Profit stood at $219m during the period, showing a $14m rise from the same time during 2012.

"We've made a lot of progress in the first few months of the year," said Mark Zuckerberg, founder and CEO, Facebook.

"We have seen strong growth and engagement across our community and launched several exciting products."

The site enjoyed an average of 665 million daily users during the three months, showing an increase of 26% year-over-year.

Monthly active users were 1.11 billion as of March 31, an increase of 23% year-over-year, with 751 million users now adopting Facebook on their mobiles, showing a 54% rise from 2012.

As a result of the release, the company, which launched Graph Search and Facebook Home during the quarter, saw share prices rise - currently standing at $28 per share.

Will mobile advertising continue to increase Facebook revenue? Will it be the money-spinner for the company? Tell us your predictions below