Facebook emerged seemingly unshaken from legal battles in the US and anti-trust investigations by the Federal Trade Commission, posting a 28% gain in revenues to $16.9 billion in the second quarter of 2019.
Mobile ad revenue was responsible for the majority of the earnings at $15.6 billion or 94% of total ad revenue, up 3% year-on-year, highlighting just how vital the format has become for the social network.
Mobile ad revenues rose 12% over Q1 2019.
“We had a strong quarter and our business and community continue to grow,” said CEO Mark Zuckerberg. “We are investing in building stronger privacy protections for everyone and on delivering new experiences for the people who use our services.”
Broken down further, mobile video made up 50% of ad revenues.
“The best mobile-first ad or ad on Facebook gets to the main point or gets to the product in the first three seconds,” explained COO Sheryl Sandberg in a conference call on Wednesday.
Facebook also announced a daily active user growth of 8% to 1.59 billion compared to the previous year, led by India, Indonesia and the Phillippines.
Monthly active users jumped by 8% or 180 million compared to last year.
“In terms of our Family metrics, we continue to grow and estimate that on average, more than 2.1 billion people used at least one of our apps on a daily basis in June and more than 2.7 billion people were active on a monthly basis,” added David Wehner, CFO of Facebook.
Facebook’s impressive performance is largely driven by the company’s continued focus on improving its ad products and engagement among consumers.
Meanwhile, the network alongside Google are subject to regulatory action in Australia calling for greater scrutiny over the data collection and storage practices of both companies.