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.
“Our community and business had another good quarter,” said Facebook CEO Mark Zuckerberg. “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.”
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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.
