By Poppy Trowbridge, Business and Economics Correspondent
Facebook's revenue has risen 38% in the first quarter to $1.46bn (£940m), boosted by an increase in mobile advertising.
The social media giant said its profit was $219m (£140m) in the three months to March, up from $205m (£131m) in the same period a year ago when the company was still private.
"We've made a lot of progress in the first three months of the year," founder Mark Zuckerberg said.
"We have seen strong growth and engagement across our community, and launched several exciting products."
Facebook, which according to the company has 1.1 billion monthly users, is developing ways to make money from its members.
Some 751 million people now use Facebook monthly on their mobile phones, according to the company.
It said its mobile advertising revenue represented 30% of the total income, up from 23% in the fourth quarter of 2013.
This figure is closely monitored by financial markets and investors, and is for ads designed specifically for mobile devices, including tablets.
Founder Mark Zuckerberg is trying to increase mobile revenue monetisation As the number of users who socialise via their phones or tablets rises, Facebook continues to develop ways of advertising to those individuals.
The company's share price has risen in the run up to the earnings report.
Shares in Facebook are currently worth around $28 (£17) each, which is still around $10 (£8.50) below the May 2012 flotation opening price.
Investors who bought shares when it was first floated on the Nasdaq stock exchange still remain out of pocket.
Eden Zoller, an analyst at Ovum, told Sky News: "Facebook is no longer a novelty, it doesn't mean that there's going to be a mass exodus for Facebook.
"It's too entrenched, it's part of a lot of people daily lives."
Facebook was founded in 2004 by Mr Zuckerberg in his Harvard dorm room and now employs some 4,600 people.
More than 80% of Facebook users are outside North America, with around 28 million users said to be in the UK.
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