With a 72% increase in the profits for the first quarter, social media giant Facebook has put the onus on the strong mobile advertising business. For Facebook, the giant social networking service, mobile advertising is about 59% of the total revenue generated in the first quarter of 2014. Facebook has been focusing on the increase in the growth of the members using the service on smartphones with affordable internet plans. A host of applications running on the social network which have been designed for mobile platforms has ensured that more people login all over the world.
According to Mark Zuckerberg the company has made long term strategies that include staying focused on improving the business and products. Another announcement was made about David Ebersman, CFO stepping down and he will be succeeded by Vice President Facebook, Dave Wehner. Zuckerberg said that David has been an important part of building Facebook and he is grateful for all that he has done for the company to keep the communication all over the world. He said he was looking forward to working with Dave as the next CFO.
Outgoing CFO, David Ebersman said that he considered it his privilege to be working with Facebook and he was glad to be a part of their team. He said that he had complete confidence that Dave Wehner has the ability to lead the teams in the future.