Facebook again beat analyst estimates for its quarterly earnings on Wednesday as shares increased 7 percent to all-time highs in after-hours trading.
The social media behemoth reported $6.44 billion in revenue for the second quarter, beating expectations of $6 billion, and up 59 percent from the year-ago quarter. It also posted earnings per share of $0.97, which beat expectations of $0.82.
“Our community and business had another good quarter,” Facebook CEO Mark Zuckerberg said in a statement. “We’re particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services.”
Facebook has now exceeded earnings expectations in 16 of its 17 reports since the company went public in 2012.
Facebook also added 60 million users in the past three months, bringing its monthly active user count to a record 1.71 billion. Daily active users rose to 1.13 billion, up 17 percent, and mobile active users rose to 1.57 billion, up 20 percent.
The company said that mobile advertising revenue made up 84 percent of advertising revenue during Q2, up 8 percent from a year ago.
Some analysts voiced concern with fast-growing Snapchat drawing attention away from Facebook users, but that doesn’t seem affecting Facebook, which continues to surpass expectations by every metric. It’s certainly a stark contrast to Twitter, which disappointed Wall Street again on Tuesday with its earnings report.
