The social network reported that profit more than doubled and revenue topped estimates for the ninth straight quarter. About 62% of Facebook's ad revenue now comes from advertising on mobile devices, which this year is expected to eclipse newspapers, magazines and radio in the U.S. for the first time, according to eMarketer.
Facebook also continued to show it can weather concerns that it is losing its "cool" factor among teens or irking users worried about privacy. Facebook added another 40 million users in the second quarter, with one-fifth of the world's population now logging into the social network at least once a month.
"This is a good quarter for us," said Facebook chief executive Mark Zuckerberg on a conference call with analysts Wednesday, but "there's still so much room to grow," he said.
Facebook's revenue rose 61% to $2.91 billion in the second quarter, generating a profit of $791 million, up from $333 million a year ago."
Source: WSJ, 23rd July 2014