FACEBOOK’S second quarter earnings exceeded expectations yesterday, with revenues up a whopping 60.5 per cent on a year ago to $2.91bn (£1.71bn).
The revenue figure outstripped analysts’ predictions by about $100m, sending the company’s shares up by four per cent in after-hours trading following the announcement.
Quarterly profits of $791m also exceeded expectations, more than doubling from 12 months earlier, when the colossal social network raked in $333m.
The company is making an increasing amount of its revenue from mobile advertising, which made up 62 per cent of total advertising revenue between April and June, in comparison to 41 per cent last year.
The website now has 1.32bn monthly active users, 14 per cent more than in the middle of last year. There was also a 19 per cent spike in the number of daily users, to 829m.
The firm’s revenues are increasingly found outside the US. In the second quarter of 2012, more than half of the firm’s $1.18bn revenue came from the US and Canada, compared to less than 45 per cent during the most recent financial quarter.