Facebook Far Outpaces Expectations
Mark Zuckerberg has reason to be smug. The social media giant zoomed past critics’ expectations to more than double its quarterly earnings thanks to a boom in mobile ads. The company reported second-quarter revenue of $2.9 billion, up 61 percent from last year, and mobile advertising grew 151 percent. It now has 1.32 billion monthly users — nearly China’s population — and shares that have climbed over 30 percent this year enjoyed a five percent bump in after-hours trading.