Facebook reported its earnings for Q1 2016 today, and showed impressive growth with almost all revenue coming from mobile ads. Founder and CEO Mark Zuckerberg is also proposing a stock split that will see him remain in control of the company.
The three-for-one stock split will usher in a new class of non-voting shares, which provides current Facebook shareholders with two additional, non-voting shares to their current holdings.
That would create a lot more non-voting stock for trading purposes, and make the company’s Class B stock (which gives owners ten votes for each share) a bit harder to come by. It also keeps Zuck in control; he has a lot of Class B stock.
Facebook is also reporting revenue of $5.4 billion on the quarter, 79 percent of which came from mobile ads. Mobile ad revenue now makes up 77 percent of Facebook’s total revenue stream.
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The company also reports 60 million new users in the last quarter, and that just about all of its traffic (82 percent) comes via mobile devices.
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