Facebookmade an impression at Wall Street when it revealed its current revenue report on Wednesday. The company's earnings report sent its shares up by over 8 percent after several hours.
The biggest online social network in the world broke investor's expectations with its 52 percent increase in quarterly revenue coming from its advertisements directed to the growing numbers of mobile users.
The company has beaten the trend of mediocre tech results experienced by eBay Inc. and Apple Inc. as a reaction to a robust U.S. dollar pushing down the value of international sales and the economic uncertainty in the world.
"It's phenomenal at these (currency headwind) levels that they're accelerating to that level of growth," says Rob Sanderson, an analyst at MKM Partners.
The dominance of Facebook in the area of mobile advertising is instrumental in allaying the concerns of Wall Street regarding its considerable investments in virtual reality unit Oculus and messaging service WhatsApp, both of which have not yet produced profits.
But the social media network easily hurdled expectations on some of the key metrics not only in sales and income but also in the growth of new users.
In the last quarter of 2015, the company generated an income of $5.8 billion, which translated to 52 percent growth. On the other hand, the company generated a profit of $1.6 billion, which is 123 percent compared to the previous year.
Its revenue for Mobile ad also had a huge increase which currently makes up 80 percent of the company's total income, an increase from 69 percent a year ago.
With all figures in, Facebook reported total sales of $17.9 billion, representing an increase of 44 percent. Its total profit has climbed up to $3.7 billion.
The increase in profits came from new people using Facebook and the company making more money out of them as a result. Currently there are about 1.59 billion people using the site every month.
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