Facebook Inc's first-quarter revenue increased 38% year-on-year, as the world's largest social network continued to grow its mobile advertising business.
Shares of Facebook were down 43 cents at $27 U.S. in after-hours trading on Wednesday.
Facebook said it earned $219 million U.S. or nine cents a share, in the first three months of the year, compared to $205 million U.S., or nine cents a share, in the year-ago period.
Excluding certain items, Facebook said it earned 12 cents U.S. a share.
Facebook's revenue in the first quarter totaled $1.46 billion U.S., versus $1.06 billion U.S. in the year-ago period. The company said that mobile ads accounted for 30% of its total advertising revenue in the first quarter, up from 23% in the fourth quarter of 2012.
