Facebook’s mobile-first strategy is fueling the company’s growth as it seeks to dominate the social network space through acquisitions. Facebook announced a 39 percent rise in revenue to cross the $4B mark in the quarter ending June 30th compared to $3.5B revenues in the first quarter.
“This was another strong quarter for our community,” said Mark Zuckerberg, Facebook founder and CEO. “Engagement across our family of apps keeps growing, and we remain focused on improving the quality of our services.”
Advertising revenue has been the main source of income for Facebook. Revenue grew by a whopping $2.1B in the six months ending June 30th 2015 to $7.5B compared to $5.4B in 2014.
The number of people using Facebook on mobile shot up by 17 percent to reach 844 million daily active users. This is where the bulk of Facebook’s revenue is coming from, according to the consolidated reports, yet Facebook hasn’t monetized its other properties; Instagram, Whatsapp or Messenger.
“Mobile advertising revenue represented approximately 76% of advertising revenue for the second quarter of 2015, up from approximately 62% of advertising revenue in the second quarter of 2014,” states the report.