Quarterly profits beat Wall Street estimates...
Facebook has enjoyed another outstanding quarter, as the social media giant reports earnings of $2 billion for the period from April to June.
This represented a huge increase from $719m in 2015. Revenue of $6.4bn easily beat market expectations of $5.8bn.
The company's ever-increasing attractiveness to advertisers was also showcased.
Total advertising revenue surged 63% to $6.24bn.
Facebook is also proving adaptable as the industry shifts towards mobile and video – particularly when compared to Twitter's recent struggles in that regard.
Mobile ads now account for 74% of the company's advertising revenue.
New advertisers are also getting more eyes on their products.
Facebook's monthly active user base is growing.
They have 1.71 billion as of June 30th, compared with 1.49 billion a year earlier.
Moor Insights & Strategy analyst Patrick Moorhead commented:
"Facebook has shown that you can be a giant and you can be innovative. What is working very well is their very quick shift from desktop to mobility. This was their biggest issue when they went public."
Chief executive Mark Zuckerberg (pictured) was especially pleased with its video growth.
"Our community and business had another good quarter.
"We're particularly pleased with our progress in video as we move towards the world where video is at the heart of all our services."
Facebook shares jumped 7% in after-hours trading following the announcement.