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.
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.