This saw Facebook’s shares rise some 6.7% in the hours after trading. This equals adjusted earnings of US$0.97 per share.
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The Menlo Park, Calif.-based company said it grew its Daily Active Users (DAUs), which totaled 1.14 billion, by 16% year over year.
Mobile advertising rose to 84% of Facebook’s ad revenue in the latest period up from 76% past year.
“Facebook remains a top pick for us, given its position as the largest/most engaging mass-reach Internet platform for advertisers, unmatched targeting potential, and very potent monetisation formats”, said a note this week from Cantor Fitzgerald analysts.
The company is also becoming more efficient as it gets older, bringing in $2.05bn in profits this quarter, compared to $719m a year ago. The net income of the second quarter jumped to $2.06bn, or 71 cents per share, from $719m or 25 cents.
Mobile MAUs were 1.57 billion as of June 30, 2016, an increase of 20% year-over-year.
According to Facebook CEO Mark Zuckerberg, the time spent on company’s suite of apps had “increased double digit percentages” year-over-year.
Instagram hit the 500 million user mark last month and is expected to hit $1.5 billion in mobile ad sales this year, according to an estimate from research firm eMarketer.
Advertising is Facebook’s growth engine with ad revenue soaring 63 percent to $6.24 billion in the quarter ending in June.
“Our community and business had another good quarter”, Mr Zuckerberg said of the results.
If you needed more proof that Facebook is absolutely crushing it on mobile, consider this: More than a billion people now check Facebook from their phones every single day.
Facebook still has several untapped areas for revenue opportunities, including its WhatsApp and Messenger apps, both of which have more than 1 billion users.
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Facebook announced Wednesday that it is getting even bigger and richer during a quarterly earnings call. All of them have more than a billion users, except Instagram, which has half a billion.
