Mind-blowing performance

For the first time in its corporate history, Facebook has managed to take its quarterly advertising revenue to above £1 billion, resulting in a 53% q-o-q jump in turnover for the April to June period. The social media giant reported much-improved second-quarter revenue and profit on the back of its aggressive push into mobile advertising. Facebook began showing mobile advertisements for the first time last spring. Those ads now account for 41% of its total advertising revenue in the most-recent quarter. the number of unique users accessing Facebook on mobile devices rose by 51% to a total of 819 million for the month of June. The company’s revenues for the second quarter – 88% of which came from advertising – rocketed to almost £1.2 billion, up from £770 million for the same time a year ago. The boost to revenues means Facebook has leapt into the black, making a net profit of £217 million compared to a net loss of £102 million a year ago. The results also suggest a remarkable turnaround since the company had £31.2 billion wiped from its value just months after it became public. Founder and chief executive Mark Zuckerberg said: “We’ve made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile.