Exceeds market expectations
Facebook profits and revenue soared in the three months to June thanks to an increase in mobile advertising and users.
The social media giant exceeded market expectations, profits rose 71 per cent to $3.9bn and revenue jumped 45 per cent year on year with advertising hitting $9.3bn in April to June.
Mobile advertising revenue made up 87 per cent of advertising revenue and is up 3 per cent year on year.
Mark Zuckerberg, Facebook founder and CEO said: “We had a good second quarter and first half of the year
“Our community is now two billion people and we’re focusing on bringing the world closer together.”
Users of the social networking site also continue to rise, with monthly active users hitting 2bn and daily active users for June up to 1.32bn.
Facebooks shares rose by around 4 per cent in after-hours trading with the company’s stock worth nearly half a trillion dollars.