Facebook has posted strong second-quarter earnings, with revenue of $1.81 billion (£1.2 billion), the majority of which was from advertising.
Revenue was up 53 per cent from the same time period last year, Facebook said, and up from $1.46 billion (£938.9 million) last quarter. Earnings landed at $333 million (£217 million), which was up from $219 million (£142.7 million) last quarter and the $157 million (£102.2 million) loss it posted last year.
Revenue from advertising was at $1.6 billion (£1 billion), or 88 per cent of total revenue, and up 61 per cent from last year. About 41 per cent of advertising revenue came from mobile ads.
During a conference call with analysts, COO Sheryl Sandberg said that while Facebook now has one million active advertisers, that's "just a small fraction of the local businesses on Facebook, so this remains a larger growth opportunity for us."
Facebook had 699 million daily active users as of June, up 27 per cent from last year. Monthly active users were at 1.16 billion, up 21 per cent from 2012. About 469 million people check Facebook from mobile devices on a daily basis, and 819 million do so every month.
"We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," Facebook CEO Mark Zuckerberg said in a statement. "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."
Zuckerberg took time out to shoot down recent reports that teenagers are no longer interested in Facebook. "Based on our data, that just isn't true," he said.
Zuckerberg acknowledged that an accurate count is difficult since some youngsters lie about their age to get around restrictions on under 13 users. But "based on the best data that we have, [we have] close to fully penetrated the teen demographic," he said. The number of teens using Facebook, meanwhile, has been steady and they are "really highly engaged."
Combine that with Instagram, and "we believe our engagement and time share spent are growing quickly throughout the world," Zuckerberg said.