Facebook soars in Q2

Facebook had a good second quarter, founder and CEO Mark Zuckerberg said late Wednesday afternoon after the social media giant reported financial results for the period ended June 30.



"Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world," added Zuckerberg.



The social media platform had 829 million daily active users (DAUs) on average for June, an increase of 19% year-over-year. Mobile DAUs were 654 million on average for June, an increase of 39% year-over-year. Monthly active users (MAUs) were 1.32 billion as of June 30, an increase of 14% year-over-year, while mobile MAUs were 1.07 billion as of June 30, an increase of 31% year-over-year.



Revenue for the quarter climbed 61% to $2.91 billion from $1.81 billion in the prior-year quarter. Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have increased by 59%.



Revenue from advertising was $2.68 billion, a 67% increase from the same quarter last year. Excluding the impact of year-over-year changes in foreign exchange rates, revenue from advertising would have increased by 65%.



Mobile advertising revenue represented approximately 62% of advertising revenue for the second quarter of 2014, up from approximately 41% of advertising revenue in the second quarter of 2013.



Payments and other fees revenue was $234 million, a 9% increase from the same quarter last year.



GAAP net income for the quarter soared 138% to $791 million from $333 million for the second quarter last year. Excluding share-based compensation and related payroll tax expenses and income tax adjustments, non-GAAP net income for the second quarter of 2014 was $1.09 billion, up 124% compared to $488 million for the second quarter of 2013. GAAP diluted EPS was $0.30 in the second quarter of 2014, up 131% compared to $0.13 in the second quarter of 2013. Excluding share-based compensation and related payroll tax expenses and income tax adjustments, non-GAAP diluted EPS for the second quarter of 2014 was $0.42, up 121% compared to $0.19 in the second quarter of 2013.