Facebook has posted revenues of $4.04bn for the second quarter of its financial year, a huge increase on the $2.91bn posted in the same period last year.
The bulk of the revenue growth was driven by mobile advertising, which accounted for a staggering 76 percent of all advertising revenue in the quarter, up from 64 percent in the same period last year.
Overall advertising on Facebook hit $3.82bn, a year-on-year increase of 43 percent, underlining how well Facebook is doing in convincing firms to advertise on the site.
However, this increase in revenues has come at a price, as Facebook reported that costs had increased 82 percent year on year to a whopping $2.76bn.
This affected net income, which fell nine percent on the same period last year to $719m. This was an increase on the $512m posted in Q1 2015.
Facebook’s results also showed that the firm is having great success retaining and enticing people to the site with increasing regularity.
The company reported an average of 1.49 billion monthly active users (MAUs) in June, roughly half of the estimated online population. This represents a 13 percent year-on-year increase.
Furthermore, the average mobile MAU has risen by 23 percent to 1.31 billion, helping to explain why mobile advertising on the site is rising so dramatically.
Daily active users (DAUs) rose 17 percent year on year to 968 million. Some 844 million of these were mobile DAUs, an increase of 29 percent year over year.
Facebook chief executive Mark Zuckerberg was understandably upbeat about the results, but said that the firm will continue to push engagement to maintain a high user base.
"This was another strong quarter for our community," he said. "Engagement across our family of apps keeps growing, and we remain focused on improving the quality of our services."
The growth in users comes in stark contrast to social media rival Twitter, which posted its results for Q2 earlier in the week. It too saw revenues rise, but the lack of user growth alarmed investors, causing the firm’s share price to fall.
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