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Facebook mobile ads now make up 79 percent of its business

Facebook is more mobile than ever. Again.

AFP / Getty Images

Facebook is more mobile than ever. Again.

The company reported first-quarter earnings on Wednesday, claiming a profit of 77 cents per share on revenue of $5.4 billion for the quarter. Roughly 79 percent of that revenue came from mobile advertising, which made up 77 percent of its business in Q4.

Those numbers beat Wall Street estimates of 62 cents per share on revenue of $5.25 billion.

Facebook is also growing steadily despite a pretty massive existing user base. It reported 1.65 billion total users last quarter, a jump of roughly 60 million new users over the fourth quarter. Nearly all of Facebook’s users are visiting the service from mobile devices.

You likely notice the theme here, which is nothing new: Facebook’s business is almost entirely reliant on mobile devices.

Facebook’s stock jumped about seven percent after the earnings release.

Update: Facebook is also proposing a new voting structure for its stock in hopes of helping CEO Mark Zuckerberg retain company control even while he gives away his fortune. You can read more about that here.

We’re still sifting through all of this information and will update here as we learn more. Facebook executives will talk with analysts at 2 pm PT, and we’ll be chatting shortly with COO Sheryl Sandberg and will add more here if she says anything particularly exciting.

This article originally appeared on Recode.net.

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