count paragraphs

<?php
    $paragraphAfter= 1; //shows image after paragraph 1
    $content = apply_filters('the_content', get_the_content());
    $content = explode("</p>", $content);
    for ($i = 0; $i <count($content); $i++) {
    if ($i == $paragraphAfter) { ?>
<div>INSERT HTML STUFF HERE</div>
    <?php
    }
    echo $content[$i] . "</p>";
    } ?>

added this to single.php

source: http://wordpress.org/support/topic/show-first-and-second-paragraph-on-the-homepage