Facebook’s second quarter earnings report showed the social networking company’s revenue up 53% from the same period last year, exceeding Wall Street’s expectations.
The company reported unaudited revenue of 1.8 billion dollars, almost 12 percent above analyst expectations. Excluding certain items, the company’s Q2 profit was $488 million, with adjusted earnings per share of 19 cents.
As expected, ad revenue dominated the company’s balance sheet, accounting for 88 percent of total revenue. The company’s mobile advertising efforts accounted for 41 percent of the company’s advertising revenue for the quarter, up from 30 percent last quarter.
While there has been some concern recently about whether or not Facebook is still popular, the company reported an average of 699 million daily active users, an increase of 27 percent over the second quarter of 2012. Monthly active users hit 1.15 billion, which is 21 percent above where they were this time last year. In addition, the company reported 819 million monthly active users on mobile products, a 51 percent year-over-year increase.
Facebook shares were up 19 percent in after hours trading.
Previously on GeekWire: Facebook earnings preview: Cautious optimism from analysts
