Facebook is showing few signs of slowing down.
The social-networking giant’s quarterly profit more than doubled from a year ago as mobile-advertising growth continued to surge. Revenue jumped 61 per cent from a year ago, as advertisers are drawn to the company’s growing user base.
Shares jumped 2.6 per cent to $US73.10 in after-hours trading. If the gains hold through Thursday’s opening bell, the stock will open at a new all-time high. Shares are up 173 per cent over the past 12 months through Wednesday’s close, the top performer in the S&P 500.
In conjunction with its quarterly results, Facebook also released a slew of charts highlighting its growth and its success in mobile advertising.
First, here’s a look at daily active users, who spend the most time on the social network’s platform and are therefore more valuable to Facebook from an advertising perspective. These users increased to 829 million, up 19 per cent from a year ago.
Monthly active users hit 1.32 billion, up 14 per cent from a year ago.
Mobile, once again, was the segment where Facebook saw big growth. Mobile daily active users rose to 654 million, up 39 per cent from a year ago. Facebook’s advertising has benefited from this growth. Mobile-advertising accounted for 62 per cent of advertising revenue in the quarter, up from 59 per cent in the first quarter and 41 per cent a year ago.
Mobile monthly active users increased to 1.07 billion, up 31 per cent from a year ago.
Bottom line: Facebook’s revenue continues to grow to new heights. Revenue clocked in at $US2.91 billion in the second quarter, up 61 per cent from a year ago and ahead of analysts’ expectations.