Facebook has reported strong growth in its mobile ad sales division on the back of a 51 per cent increase in mobile user from last year to hit 819m.
This contributed to profits of £217m in the 2nd quarter and saw the firm’s struggling share price leap 18 per cent at the end of its first year as a public company – although it is still down 16.7 per cent from its debut price of $38.
In the month of June alone Facebook reported that a total of 20bn minutes a day were spent on the site, generating $655.6m in mobile ad revenue in the three months to June.
This amounted to 41 per cent of the $1.6bn it made from advertising overall and compares favourably with the 30 per cent it achieved last year.
In a statement Facebook founder Mark Zuckerberg said: “The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future.”