The world's largest social network beat analyst expectations with a surprisingly strong fiscal quarter, which caused its stock to rise 17% in after hours trading.
Facebook's mobile advertising revenue led the charge, leaping from $375 to $656 million in just one quarter. The company also beat Wall Street consensus on earnings per share (19 versus 14 cents) and revenue ($1.8 billion versus $1.6 billion).
"Soon we'll have more revenue on mobile than on desktop," said founder and CEO Mark Zuckerberg during a conference call following the earnings report.
Facebook added 45 million monthly active users. 700 million people use Facebook daily now.
Zuckerberg added that Facebook's mission is "to reach the next five billion people."