Facebook surges on mobile ad revenues; Irish services exports to rise
By Michael Hennigan, Finfacts founder and editor
Jul 24, 2014 - 8:48 AM

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Facebook on Wednesday reported that profit in the second quarter more than doubled and revenue beat estimates for the ninth straight quarter - - Facebook books half its global revenues in Ireland and the jump in revenues is reflected in Irish services exports.

About 62% of Facebook's ad revenue now comes from advertising on mobile devices, which this year is expected to eclipse newspapers, magazines and radio in the US for the first time, according to eMarketer, as reported by The Wall Street Journal.

Revenue for the second quarter of 2014 totaled $2.91bn, an increase of 61%, compared with $1.81bn in the second quarter of 2013. Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have  increased by 59%.

Facebook reported profit of $791m, up from $333m a year ago.

"We had a good second quarter," said Mark Zuckerberg, Facebook founder and CEO. "Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world."

Daily active users (DAUs) were 829m on average for June 2014, an increase of 19% year-over-year. while mobile DAUs were 654m on average for June 2014, an increase of 39% year-over-year.

Results detail [pdf]

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