Facebook has reported a 20 per cent decline in profits for Q1 2015, down to $512m (£342m) from $642m during the same period last year.

However, revenues were up 42 per cent year-on-year, to $3.54bn, the vast majority of which, $3.3bn, came from advertising. All other revenues, which come primarily from payments, dropped five per cent to $226m.

Mobile represented 73 per cent of ad revenues, compared to 59 per cent in Q1 2014. The channel fared even better when it came to user numbers, with 1.25bn mobile monthly active users – 87 per cent of the total.

Outside of Facebooks core product, it also has 800m active users on WhatsApp, 700m on Groups, 600m on Messenger, and 300m on Instagram. Facebook also reported that the photo sharing apps userbase is doubling year-on-year in Asian markets including Japan, South Korea, and Indonesia, with users spending an average 21 minutes on Instagram each day.

“Across the Facebook family of apps, our efforts have a lot of momentum,” said Facebook CEO Mark Zuckerberg on the companys earnings call. “On average, more than 45bn messages are sent every day. With voice calling, were also starting to make some good progress. This quarter, we started rolling out Voice over IP calls on WhatsApp to let people call friends for free around the world. And meanwhile, Messenger already accounts for more than 10 per cent of mobile VoIP calls globally.”

Another major focus for Facebook this quarter was video, with views of videos averaging over 4bn daily. Since the launch of its embeddable video player at F8 last month, over 80,000 Facebook videos have been embedded on third-party websites – and there are more launches to come.

“Spherical videos are going to be supported in News Feed later this year, allowing you to change your viewing angle for a more immersive experience,” said Zuckerberg. Supporting new types of content like this is an important part of preparing for the future of how people want to share.”