Science

With two billion users, Facebook profits up 71 per cent in Q2

With two billion users, Facebook profits up 71 per cent in Q2

Mobile advertising revenue represented approximately 87 per cent of advertising revenue for the second quarter, up from approximately 84 per cent of advertising revenue in the second quarter previous year.

Facebook shares hit an all-time high in after-hours trading on Thursday, after it said it enjoyed a 45pc surge in revenue in its recently-ended quarter thanks to continued dominance in the mobile video advertising market. "We're going to keep improving and giving you more ways to share".

The company brought in $9.3 billion in revenue in the last three months.

Analysts on average had expected total advertising revenue of US$9.02 billion, according to data and analytics firm FactSet.

The daily active users (DAUs) were 1.32 billion on average for June 2017, an increase of 17 per cent year-over-year.

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Facebook (NASDAQ:FB) shares jumped almost 8 percent in pre-market trading, after the company recorded a 70 percent profit boost in the second quarter. The company announced recently that it now has 2 billion users.

Facebook saw its income increase by 70 percent in the second quarter of the year, the social media giant announced in a statement Wednesday.

"We had a good second quarter and first half of the year", said CEO Mark Zuckerberg. That represents 45 percent revenue growth over last year, beating the 43 percent growth analysts were looking for, though still the company's smallest year-over-year jump since mid-2015.

Facebook on July 26 in its quarterly earnings report spelled out some impressive numbers that explain in part how this can happen.