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Facebook Earnings Soar: Live Blog Recap

NEW YORK ( TheStreet) -- Facebook's (FB - Get Report) second-quarter results put the spotlight on mobile, and the social networking giant delivered in a huge way.

The Menlo Park, Calif.-based social network earned 19 cents a share on $1.813 billion in revenue for the quarter. Total advertising revenue was $1.6 billion, 88% of total revenue, and up 61% year-over-year. Mobile advertising accounted for 41% of advertising revenue this quarter.

Analysts surveyed by Thomson Reuters were expecting Facebook to earn 14 cents a share on $1.62 billion in revenue for the quarter.

Last quarter, Facebook earned 12 cents a share on revenue of $1.458 billion, a year-over-year increase of 38%. Mobile revenue accounted for 30% of total advertising revenue, a pretty healthy number, given Facebook had little in the way of mobile revenue when it went public.

On the earnings call, CEO Mark Zuckerberg noted that the ratio of daily active users to monthly has actually increased, something that surprised him. Now "61% of monthly actives are daily actives, and that ratio has continued to increase," Zuckerberg said. "In our most penetrated markets, like the US, more than 70% of actives use our services daily. And now, more than 700 million people worldwide use Facebook daily."

He also noted that people are spending more time on Facebook than ever before. "According to third party metrics like Comscore and Nielsen, Facebook's share of time spent in the US is either steady or increasing, and we believe it is steady or increasing everywhere as well," Zuckerberg said. "This makes sense to me because Facebook helps you maintain your real identity and real relationships, which are universal needs. We believe that if we execute well, we have a good shot at growing the amount of time people spend using Facebook while also maintaining or increasing our overall share of time spent."

Shares of Facebook jumped following the results, gaining 17.13% to $31.05.

-- Written by Chris Ciaccia in New York

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