Facebook continues upward trajectory

Social networking giant sees net profit soar 138 per cent in Q2

Facebook's chief executive and founder Mark Zuckerberg was modest in his second-quarter outlook, professing that the firm had a “good second quarter”.

Revenue for the three months ended 30 June hit a record $2.91bn (£1.71bn), up from $1.81bn in the same quarter the previous year, with net GAAP operating profit mushrooming 138 per cent to $791m, compared with $333m in 2013.

The firm also saw advertising revenue rocket 67 per cent from the same quarter in the previous year, to $2.68bn, and mobile advertising revenue represented 62 per cent of overall advertising revenue, up from about 41 per cent in Q2 last year.

In other highlights, the firm boasted an average 829 million daily users in June – up 19 per cent year on year, with mobile daily users up 39 per cent to 654 million.

“We had a good second quarter,” said Zuckerberg. “Our community has continued to grow and we see a lot of opportunity ahead as we connect the rest of the world.”