Facebook earnings nearly triple on strong advertising revenue

Strong advertising sales pushed Facebook to record high profit in the second quarter, the social networking company said Wednesday.

Net profits rose to 2.1 billion dollars from 719 million dollars in the year-earlier period, while revenues increased 59 per cent to 6.4 billion dollars.

Ads on mobile phones drove much of the profit, representing 84 per cent of advertising revenue. Total advertising revenue rose 63 per cent to 6.2 billion dollars.

"Our community and business had another good quarter," Facebook chief Mark Zuckerberg said. "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."

The world's largest online network reported 1.7 billion active users per month as of the end of June, up 15 per cent from the previous year.

Last update: Thu, 28/07/2016 - 00:32
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