Facebook's revenue in the second quarter increased 53%, surpassing Wall Street targets, as the internet company continued to grow its mobile ads business.
Shares of Facebook jumped 17% to $30.59 in after hours trading on Wednesday.
The world's No. 1 online social network said it earned $333 million in net income, or 13 cents a share, versus a net loss of $157 million, or 8 cents a share, in the year ago period.
Excluding certain items, Facebook said it earned 19 cents a share.
Facebook's $1.813 billion in second-quarter revenue was above the average analyst expectation of $1.618 billion, according to Thomson Reuters I/B/E/S. Facebook had $1.184 billion in revenue in the year ago period.
The company said that mobile ads accounted for roughly 41% of its total ad revenue in the second quarter, up from 30% in the first quarter of the year.
Shares of Facebook jumped 17% to $30.59 in after hours trading on Wednesday.
The world's No. 1 online social network said it earned $333 million in net income, or 13 cents a share, versus a net loss of $157 million, or 8 cents a share, in the year ago period.
Excluding certain items, Facebook said it earned 19 cents a share.
Facebook's $1.813 billion in second-quarter revenue was above the average analyst expectation of $1.618 billion, according to Thomson Reuters I/B/E/S. Facebook had $1.184 billion in revenue in the year ago period.
The company said that mobile ads accounted for roughly 41% of its total ad revenue in the second quarter, up from 30% in the first quarter of the year.
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