Today in business: 5 things you need to know

1. FACEBOOK'S EARNINGS REPORT IS ALL ABOUT MOBILE

Facebook's mobile ads raked in $375 million last quarter — 30 percent of the social network's total ad revenue. That's up from 23 percent in the previous quarter, and 14 percent the quarter before. A large chunk of that sum comes from Facebook's targeted app installers, which push new mobile apps with an "install" button that leads to the appropriate app store. Nearly 4,000 developers bought these ads from Facebook last quarter, said Facebook CFO Sheryl Sandberg. [Tech Crunch]

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2. WARREN BUFFETT JOINS TWITTER

Legendary investor Warren Buffett, 82, joined Twitter this morning for a conversation with Fortune about women and work. His first and only tweet so far: "Warren is in the house." His follower tally: 93,000 and counting. The investing guru still does not have a computer in his office. [Fortune]

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3. WEEKLY JOBLESS CLAIMS REACH FIVE-YEAR LOW

The Labor Department reported that unemployment claims dropped 18,000 last week to a seasonally adjusted 324,000 — the lowest number in five years. The numbers have no bearing on the department's monthly unemployment report, due out tomorrow, but they do suggest that the job market is continuing to heal — and that employers are less inclined to lay off workers. [NBC News]

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4. GM'S QUARTERLY PROFIT DOWN 14 PERCENT

GM's net profit fell 14 percent, to $865 million, in the first quarter, trailing its smaller rival Ford on profits-per-vehicle. GM's global revenue is down 2 percent to $36.9 billion, despite efforts to release new models in North America and Europe. [New York Times]

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5. INTEL NAMES NEW CEO

Intel Corp has elected 52-year-old Brian Krzanich to replace Paul Otellini as the company's chief executive. Krzanich, who has been with the company 31 years, has worked several jobs at Intel, including managing a plant in Arizona and running worldwide manufacturing. He served most recently as COO. "I've worn almost every hat in the company," he told the Wall Street Journal. Krzanich called the CEO job "the opportunity of a lifetime." [Wall Street Journal]