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.