Facebook Serving Fewer Ads, Making More Money

Social network's $1.18 billion Q2 revenue ekes out estimates

Facebook generated $1.18 billion in second-quarter revenue, a 32 percent increase from last year and just clearing Wall Street estimates. Advertising contributed 84 percent of the company’s total revenue and grew 28 percent year-over-year to $992 million. Payments and other fees chipped in the other $192 million, a 61 percent increase for the business.

Facebook’s advertising business has grown to the point that Facebook earned nearly $1 million a day from Sponsored Stories running in the News Feed, with roughly half of that coming from mobile, said CEO Mark Zuckerberg during an earnings call.

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