Mobile advertising revenue accounted for 84 per cent of the company's total advertising revenue, compared with 76 per cent a year earlier. The company has been beefing up its presence in the mobile video market, where Snapchat and YouTube pose strong competition. Total revenue rose 59.2 per cent to $6.44 billion, compared with the estimate of $6.02 billion. ​Total advertising revenue surged 63 per cent to $6.24 billion US, beating the average analyst estimate of $5.80 billion, according to market research firm FactSet StreetAccount. Facebook Inc's quarterly profit and revenue blew past Wall Street estimates as the company's hugely popular mobile app and a push into video attracted new advertisers and encouraged existing ones to spend more.

Source: CBC News July 27, 2016 20:26 UTC