The social media giant’s Q2 earnings report beat expectations on both earnings and revenue, with earnings of 97 cents per share (analysts predicted 81 cents) and revenue of $6.44 billion (analysts predicted $6 billion).
It also added 60 million new users, bringing its total to 1.71 billion users, compared to analyst predictions of 1.69 billion. Its stock (FB), which is up 27% in the past year, popped 6% after hours on the earnings news.
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Facebook has only missed earnings one time since it went public in 2012.
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Indeed, the story with Facebook right now is all about advertising, and mobile video ads in particular. Facebook’s overall ad revenue rose 63% from a year ago, to $6.24 billion. Mobile advertising rose to account for a whopping 84% of all ad revenue in the quarter, up from 76% in Q2 2015. The rise in mobile ad revenue means Facebook makes more money off you than ever before: an average $3.82 per year from each user worldwide, a much-higher average $14.34 per year from US users.
