Facebook quarterly profit surges 186pc to $2b
AFP
AFP, SAN FRANCISCO: Facebook said on Wednesday its profit leapt 186 per cent from a year ago to $2 billion, as the worlds biggest social network blasted past most analyst forecasts for the second quarter.
With its global base of monthly active users growing to 1.7 billion, Facebook saw a 59 percent jump in total revenues to $6.4 billion, mostly from online advertising.
Facebook shares jumped nearly seven percent in after-hours trade on the stronger-than-expected results.
Our community and business had another good quarter, Facebook founder and chief executive Mark Zuckerberg said.
Were particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services.
Facebook has been dominating the social media space as well as related online advertising as it seeks to diversify into areas such as messaging, virtual reality and other fields.
The research firm eMarketer estimates Facebook is taking in two-thirds of social media ad revenues, dominating rivals such as Twitter, which this week reported disappointing results.
The number of monthly active users, a key metric for social networks, grew 15 per cent from a year ago, Facebook said.
Almost all of Facebooks revenue, $6.2 billion, came from advertising, and 84 per cent of ad revenues came from messages delivered to mobile devices.
Facebook said it had more than one billion daily active users on mobile at the end of the quarter June 30, up 22 per cent from a year ago.
