Facebook’s results have beaten profit and revenue forecasts for the seventh quarter in a row as the firm continues to win more mobile advertising revenue as users shift to using the site on smartphones.

Facebook is placing a $19bn (€13.87bn) bet on reaching its next billion mobile users with the acquisition of WhatsApp, the messaging service that lets people send texts, photos, and videos, on their smartphones.

Facebook’s first earnings report as a public company had solid numbers, but in the end it landed with a thud – much like its rocky initial public offering two months ago.

Facebook is trying to evolve from an internet hangout where people share titbits, links and photos to a homestead decorated with the memories, dreams and diversions of its 800 million users.

Twitter has bought TweetDeck, a London-based start-up that helps people read, write and organise the short messages posted on the online network.