![Inside The F8 Facebook Developers Conference Inside The F8 Facebook Developers Conference](https://api.time.com/wp-content/uploads/2016/04/gettyimages-487458205.jpg?quality=85&w=2400)
Facebook’s stock is up nearly 9% in after-hours trading Wednesday after the company’s first quarter results obliterated analysts’ expectations.
Facebook posted adjusted earnings of $.77 per share on revenue of roughly $5.38 billion for the quarter. Analysts expected earnings of $.62 per share and $5.26 billion in revenues, per CNBC.
How is Facebook making all that money? Advertising, mostly:
![Facebook Revenue Q1 2016](https://api.time.com/wp-content/uploads/2016/04/screen-shot-2016-04-27-at-4-50-03-pm.png?w=2400&quality=75)
But it’s the source of most of that ad revenue that’s really impressive: mobile devices, like smartphones and tablets. Facebook’s revenue from mobile advertising represented a staggering 82% of the company’s $5.2 billion in total ad revenue this quarter, or about $4.3 billion.
That’s a big deal. People are increasingly spending time on mobile devices instead of desktop computers. Just over half of Facebook’s 1.65 billion monthly active users only visit the site on a mobile device. But mobile devices represent a big challenge for advertisers, as their smaller screens offer less room for ads. Facebook, with its in-feed ads, has clearly cracked the mobile nut.
![Facebook Monthly-Only MAUs](https://api.time.com/wp-content/uploads/2016/04/screen-shot-2016-04-27-at-5-05-49-pm.png?w=2400&quality=75)
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