Facebook shares hit record high as mobile ad sales soar

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The company said mobile ads represented 87% of its advertising revenue of $9.16bn, up from 84% a year ago. The company brought in $9.3 billion in revenue in the last three months.

According to Facebook, in June its number of monthly users surpassed two billion.

"We had a good second quarter and first half of the year", said CEO Mark Zuckerberg.

The company's stock closed up 0.2pc on Thursday, but rose 4.5pc in after-hours trading to $173.

Daily active users (DAUs) - DAUs were 1.32 billion on average for June 2017, an increase of 17% year-over-year.

MENLO PARK, Calif., July 26, 2017 - Facebook, Inc. today reported financial results for the quarter ended June 30, 2017.

Facebook MAU

That beat the average forecast of US$9.2 billion among analysts tracked by Thomson Reuters I/B/E/S. "We're seeing more and more ad dollars getting allocated to mobile, and we think that trend will continue".

Investors were bracing for a slightly more dramatic revenue slowdown from Facebook, which has been warning Wall Street that its year-over-year revenue growth would start to decline this year because it is running out of space to show people ads in News Feed.

Facebook isn't just growing in terms of users and revenue. Operating expenses including cost of revenue as a percentage of revenue were 40%, versus 44% last quarter and 43% in Q2:16, reflecting R&D growth associated with higher headcount and the buildout of new products.

Instagram and WhatsApp are now offering similar features.

For the second quarter, net income attributable to shareholders rose to $3.89 billion, or $1.32 per share, from $2.28 billion, or 78 cents per share, a year earlier.

Facebook, a global social media, now has a platform community exceeding 2 billion people, including more than 1.3 billion people who use Facebook every day.




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