Facebook ad revenue increased 37% to $872 million in the first quarter of 2012, compared with $637 million in the first quarter last year. That represented 82% of Facebook’s total first quarter revenue. Total revenue rose 45% to about $1.1 billion in the first quarter.
The social network reported a dip in net income to $205 million in the first quarter of the year, compared with $233 million in the same quarter last year. The numbers were reported in Facebook’s amended Securities and Exchanges Commission (SEC) filing on April 23.
The ad revenue increase was attributed to a 35% increase in the number of ads delivered, Facebook stated in the filing.
Games developer Zynga represented 11% of Facebook’s total revenue, which consists of purchased ads and payments processing fees related to Zynga’s sale of virtual goods on Facebook.
Average price per ad in the first quarter stayed the same compared with the same period in 2011. While average price per ad increased in North America, it was offset by ads delivered in geographies such as Asia and Europe, where average price per ad is relatively lower, according to the document.
Facebook’s agreement to acquire Instagram, the mobile phone-based photo-sharing service, for $300 million in cash and 23 million shares in April, was also noted in the filing. Facebook announced its agreement to acquire Instagram for $1 billion in cash and stock on April 9.
Facebook could not be reached for comment.