The most popular social network has made a new record as profit reached $791 million last quarter. The three month period ended June 30 and the company showed a 138 percent increase. Last year, profit was only $333 million so this huge leap is really impressive.
"We had a good second quarter. Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world," Facebook CEO Mark Zuckerburg exclaimed.
More people had gone mobile so it's not surprising that 62 percent of the ads were served mostly from the tablets and smartphones. Facebook's ad revenues went up to $2.68 billion -- up by 67 percent from the figure last 2013.
More Facebook users now access the social site from their mobile devices. This trend brought the company more success. Membership rose by 14%, increasing to 1.32 billion compared to last year's number during the same period.
As for the shares, Facebook went up to $75.05 per share when it closed in New York yesterday, a result of a five percent increase. This is the highest since 2012 when it started at $38 and opened to the public and since the record high last March at $72.03.
"The numbers look good; this is a very strong quarter for them. They look more like a real company now than a dot-com. Tactically, they are doing well," said Rob Enderle, Enderle Group's analyst.
Looking at the global digital advertising revenue, Facebook captured 5.8 percent and should reach eight percent this 2014. Meanwhile, spending on digital advertising is also expected to grow to $140.2 billion this year.
Mobile advertising revenue by Facebook could take a 22.3% share of the worldwide market this year.
Facebook is also expected to spend more this year as it continues to invest on people and infrastructure. The company will also continue with its purchase of smaller startups. Recently, it bought Oculus VR for $2 billion. Zuckerburg is also believed to still be hoping to purchase WhatsApp for $19 billion.
Mobile advertisements will continue to empower profit and revenue. The second quarter sales of Facebook proved that mobile advertising has a brighter future.
