Facebook Adds 60 Million Users in Q2 and Crushes Earnings Estimates

Zuckerberg

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Facebook just had another record quarter.

The social media platform’s Q2 earnings beat expectations on both earnings and revenue, with earnings of 97 cents per share and revenue of $6.44 billion. Analysts predicted earnings of 81 cents per share and $6 billion in revenue.

Facebook also added 60 million new users, bringing its total to 1.71 billion users, compared to analyst predictions of 1.69 billion. Its stock was up 6.5% in after hours trading.

“Our business is growing at a healthy rate,” Facebook founder and chief executive Mark Zuckerberg told a conference call, noting that the company has strategic plans for the next five and 10 years.

“Our results show our progress in our goal of making the world more open and connected.”

Zuckerberg said a key part of Facebook’s strategy was using video, which he said was “at the heart of all our apps and services.”

Facebook’s overall ad revenue rose 63% from a year ago, to $6.24 billion. Mobile advertising rose to account for 84% of all ad revenue in the quarter, up from 76% in Q2 2015.

The rise in mobile ad revenue means Facebook makes more money off you than ever before: an average $3.82 per year from each user worldwide, a much-higher average $14.34 per year from North American users.

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