Facebook’s advertising revenue skyrocketed to $6.2 billion, an incredible 63 percent increase compared to the same quarter previous year, the company reported today. Analysts expected Facebook (FB) to generate $6 billion in second-quarter revenue, according to S&P Global Market Intelligence, up from $4.04 billion during the same period a year earlier.
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Monthly active users (MAUs) were 1.71 billion as of the end of June, an increase of 15%, while Mobile MAUs totaled 1.57 billion, increasing of 20%. Daily mobile users reached 1.03 billion, marking a growth of 22%.
Daily active users also grew – to 1.13 billion, an increase of 17 percent.
“Our community and business had another good quarter”, said Mark Zuckerberg, Facebook’s co-founder and CEO said in a statement.
Better yet, Facebook is successfully monetizing its growing user base, particularly with mobile ad revenues, which surged 81% year-over-year.
Facebook Inc provided more evidence on Wednesday that it can turn eyeballs into profit as the maker of the world’s most popular app and social website trounced Wall Street’s estimates, sending its shares to an all-time high.
First and foremost, Facebook demonstrated that its social network platform is still attracting plenty of users.
Remember that Facebook also purchased Oculus a few years ago, so they have their Rift VR headset, and they also work closely with Samsung on the GearVR. Shares were surging in after hours trading Wednesday.
In the second quarter, Facebook’s revenue jumped 59% to $6.44bn (£4.9bn) compared to the $6.01bn revenue estimated by analysts in a survey conducted by Bloomberg.
Facebook’s growth in mobile ads is aided by video and ads on its photo sharing app Instagram.
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Twitter said that it had 313 million monthly active users in its report, less than a fifth of Facebook’s population. All the while, Facebook proper has seen the number of people who access the social network exclusively from their computers slowly dwindling away.
