News Summary: Facebook 2Q results beat estimates
News Summary: Driven by mobile ad revenue, Facebook posts 2Q profit, sharply higher revenue
This Tuesday, July 16, 2013, photo, shows a sign seen at Facebook headquarters in Menlo Park, Calif. Facebook reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Ben Margot)
SAN FRANCISCO (AP) -- MOVIN' UP: Facebook's stock is flying high after the world's biggest online social network posted sharply higher revenue and delivered a healthy second-quarter profit that reversed a loss in the same period a year ago. The stock rose 17 percent in extended trading.
MOBILE PROMISE: Mobile ad revenue was $655.6 million, or 41 percent of the quarter's total advertising revenue of $1.6 billion. In the first quarter, mobile accounted for 30 percent of total ad revenue.
THE NUMBERS: Facebook earned $333 million, or 13 cents per share. Adjusted earnings were 19 cents per share, above the 14 cents that analysts were expecting. Revenue grew 53 percent to $1.81 billion.
