Shares in Facebook have leapt 18 percent as it beats earnings expectations with stronger than expected mobile ad sales.
The company reported profits of $333m (£217m) in the second quarter.
"The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future," said founder Mark Zuckerberg in a statement.
Facebook is the world's largest social networking company. According to chief financial officer David Ebersman, 20 billion minutes a day were spent on Facebook in June.
"This quarter marks the end of our first year as a public company and I think we've created a good foundation for the future," said Mr Zuckerberg on a call to discuss the earnings.
Facebook saw $655.6m in revenue from mobile ads in the three months from April to June - more than 41% of the total $1.6bn it made from advertising overall, compared with 30% for the same period last year. The number of mobile users expanded 51% to 819 million.
No comments:
Post a Comment