Facebook issued an upbeat earnings report
for its fiscal second quarter, sending shares of the social
networking giant more than 15 per cent higher in after-hours trading.
The company said it earned 333 million dollars in profit in the quarter compared to a loss of 157 million dollars a year earlier. Revenue rose to 1.81 billion dollars from 1.12 billion dollars.
The company said it now has 1.15 billion monthly active users, up 21 per cent on the year, while daily active users rose 27 per cent to 699 million. The number of monthly active users accessing the social network on mobile devices rose even more sharply, up 51 per cent to 819 million.
Other highlights of the quarter included a rise in the number of active advertisers to 1 million, while the company touted a growth in mobile advertising to 41 per cent of total advertising revenue.
"We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," said Mark Zuckerberg, Facebook founder and chief executive. "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."
The Facebook earnings report is available here.
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