Facebook's quarterly advertising revenue has reached USD$6.24 billion, the social media behemoth revealed in its second quarter results.
Advertising dollars flowing to Facebook have grown by 63% year-on-year (yoy), with the main money maker for the business being mobile. Facebook outlined that 84% of its advertising revenue for the second quarter of 2016 was represented by mobile, a rise from 76% in 2015.
The continued growth of Facebook when it comes to ad revenue would come as little surprise to many, with Morgan Stanley analysts out of the US predicting in the first quarter of this year, 85 cents of every new dollar spent in online advertising will go to either Google or Facebook.
The dollars are of course following the users, who are also flocking to mobile, with Facebook reporting that mobile daily active users were 1.03bn on average for June 2016, an increase of 22% yoy. Monthly active users on mobile also rose, reaching 1.71bn as of June 30, 2016, an increase of 15% yoy.
Overall, daily active users were also up 17% yoy, hitting 1.13bn on average for the month of June.
Facebook's total revenue well and truly surpassed Wall Street's estimates, with the social player's total revenue reaching $6.44bn. This saw Facebook's shares rise some 6.7% in the hours after trading.
"Our community and business had another good quarter," Facebook founder and CEO, Mark Zuckerberg, says. "We're particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services."
This continued growth from Facebook comes as the business revealed last week that its messenger offering has reached the more than a billion users mark. When this is combined with Facebook's other messenger business, WhatsApp, the company reaches more than two billion people via these services alone.
Speaking with AdNews, head of messaging products at Facebook David Marcus, said there are several factors that have contributed to the app's growth over the last few months, and even over the last few years.
“We built a couple of capabilities that more and more people love and have come back to messenger for,” he says.“Mainly there are all kinds of different ways for people to communicate and interact, like video calling and voice over IP calling and ways for people to express themselves.”
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