Facebook makes BILLIONS from your dull life

Facebook has banished any doubts that it can’t make money from people’s mundane existence by topping revenue estimates for the ninth quarter in a row. Over 60 per cent of Facebook’s advertising revenue now comes from smartphones and tablets with boss Mark Zuckerberg saying it was a “good quarter” for the company.

The social network added 40 million users in the second quarter, with around 1.32 billion active users regularly posting on the site. Facebook’s total revenues rose a whopping 61 per cent to $2.91 billion in the second quarter, generating a profit of $791 million, up from $333 million a year ago.

Facebook’s stock soared to an all-new high on news of its latest results, rising 3.7 per cent to $75. The gap between monthly active users on desktop and mobile also closed. With 1.32 billion active on desktop there are now 1.07 billion active users on mobile. These two figures represent 14 and 31 per cent increases respectively.

“Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world,” Zuckerberg said.

On any given day the average number of active users on Facebook now stands at 829 million, a 19 per cent increase on last year. On mobile devices the average number of people logging on each day hit 654 million in June, up a massive 39 per cent on last year.

Generating revenue and profit from mobile advertising was seen as a massive challenge for the company. Facebook is going head-to-head with Google, which currently has around 49.8 per cent of the US mobile advertising market. Facebook’s share is projected to be 18 per cent later this year, with Google’s share dropping to 39.8 per cent.

To pull in the bucks Facebook has aggressively introduced more and more advertising on its mobile apps and websites. Premium video adds have been a major part of this, while the company has also launched a mobile advertising network to sell ads on apps it doesn’t even own.