Mobile device push helps Facebook beat forecasts

Facebook last night reported sales that exceeded analysts’ estimates as the operator of the world’s most popular social-networking service attracted more marketers with new features and mobile-advertising tools.

First-quarter sales rose 38% to $1.46bn, Facebook said in a statement. That compares with the average estimate of $1.44bn, according to data compiled by Bloomberg.

So far this year, Facebook chief executive Mark Zuckerberg has unveiled new software for smartphones, added tools for marketers and revamped News Feed, the first thing members see when logging on to the network of more than 1 billion. Investments in upgrades to attract more users and advertisers are beginning to pay off, according to Tom Forte, an analyst at New York-based Telsey Advisory Group.