US-based social networking giant Facebook is earning more than half of its ad revenues outside the home country and Canada, Reuters reported, citing company executives.

Overseas markets accounted for 51% of the company's global ad sales in the first quarter. While the European market is growing slower, the Asian market, where the company recorded the fastest ad revenue growth at 57%, is contributing the most among overseas markets.

Facebook is now looking at international markets for growth, the report said.

"The next 1 billion consumers are going to come from these countries," Reuters quoted Carolyn Everson, vice president, global marketing solutions at Facebook, as saying.

Total advertising revenue for the first quarter increased 46% to $3.3bn, representing the great majority of Facebook's $3.5bn in quarterly revenue. Ad revenues from international markets rose 36% during the quarter, on a year-over-year basis.

Mobile advertising represents more than 70% of Facebook's total ad revenue, as the platform becomes increasingly attractive to advertisers in the emerging markets such as China and India.

While Chinese exporters are looking to target people outside their country with more ads, an influx of venture capital funding into India has given more funds to the country's start-ups for advertising.

Facebook has recently launched a lighter version of its mobile app, called Facebook Lite, targeting users in areas with poor internet speed. Facebook Lite is now available in countries across Asia, and will be rolled out in various countries in Latin America, Africa and Europe shortly.