DHAKA: Facebook reported a 195% jump in first quarter profit as the company continued to generate new advertising income.

It reported $1.5bn in earnings for the period between January and March, compared to $512m last year, reports the BBC.

As well as enticing advertisers to new products like live video, Facebook boosted sales on existing services.

Facebook also proposed a new class of shares, which will allow founder Mark Zuckergerg to sell his shares without losing control of the company.

The company said the move will “encourage Mr Zuckerberg to remain in an active leadership role at Facebook”.

Facebook shares rose over 9% in after-hours trading.

Sales for the quarter reached $5.3bn up from $3.5bn last year.

Mobile advertising made up 82% of Facebooks overall advertising revenue, up from 73% at the same time last year.

Total monthly active users (MAU) increased 15% from a year earlier to 1.65 billion, which was ahead of analysts expectations.

BDST: 1202 HRS, APR 28, 2016
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