Facebook Inc on Wednesday reported a 5.4% hike in its shares as it topped $2 billion (around Rs 13,407 crore) in quarterly profit, reported The Wall Street Journal. The company's focus on mobile apps, from which it generates the maximum revenue through ads, has reaped dividends. More than 90% of users of the social networking website are on mobile devices.
Over the past one year, the website added 220 million monthly active users. The company posted a 80% rise in revenue from mobile ads in the second quarter of the fiscal. The overall growth rate stood at 59%. Facebook Chief Financial Officer Dave Wehner said the mobile app continues to be the company's strength. According to the US company, the net income in the second quarter of the financial year was $2.06 billion, or 71 cents a share. A year ago, the company had posted a net income of $719 million.