Facebook's fairytale just grew that little bit more as its Q1 2014 earnings blew all estimates out of the water.

Bigger is better

Things were up virtually across the board at Cupertino, with both earnings and users up from Q4 2013. 

For the record, Facebook now has 1.28 billion total monthly users (up from 1.23 billion) and earned US$2.5 billion, beating Wall Street estimates of US$2.36 billion.

Total ad revenue accounted for US$2.27 billion, an increase of 82 per cent from the same time last year.

Mobile muscle

Perhaps the most interesting announcement was that 59 per cent of Facebook's revenue now comes from mobile devices, up from 53 per cent in Q4. 

Facebook's daily mobile user count has also increased 9.5 per cent to 609 million daily mobile users.

Can there be only one?

With Instagram increasing to grow and Facebook's recent acquisition of WhatsApp, the race to rule social is looking increasingly one-sided.

Like it or lump it.

To find out more visit investor.fb.com/results.cfm. 

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