After making public its Q2 earnings, Facebook's stock went to record high. Facebook's mobile strategy has contributed to the increase in company's earnings from its live video and its photo-sharing app Instagram.
According to MarketWatch, Facebook reported its Q2 earnings just hours after the market closed on Wednesday, July 27. Even before seeing the results, market analysts have anticipated that the social media giant will report second-quarter earnings that show growth due to the increasing number of active users and higher ad revenues.
Business Insider reports that the social media giant has accelerated its revenue growth in the second quarter. Facebook has delivered a 59 percent increase in revenue. The figure has been more than Wall Street targets.
Facebook's second-quarter revenue has been $6.44 billion, compared with only $6.02 billion expected. Facebook's second-quarter earnings per share are $0.97, compared to expectations of only $0.82.
In after-hours trading on Wednesday, the news pushed company's shares to rise up by 8 percent and reach a new all-time high. Facebook has warned its investors that in the coming quarters it doesn't expect as much growth and as a consequence the stock is now only up about 5.5 percent.
According to Facebook, Q2 monthly active users have been 1.71 billion, comparing to only 1.69 billion expected. This represents an increase of 15 percent year-over-year in monthly active users of the social network.
In the same Q2 period, Facebook's daily active users have reached 1.13 billion, representing an increase of 17 percent year-over-year. The ratio of daily active users (DAUs) and monthly active users (MAUs) of the social media network stayed steady at 66 percent.
According to Facebook CEO Mark Zuckerberg, the time spent on company's suite of apps had "increased double digit percentages" year-over-year. However, CFO David Wehner has warned the investors that the company expects lower growth rates in the next couple quarters.
