Facebook Soars on Earnings Beat

NEW YORK ( TheStreet) -- Facebook ( FB) shares jumped after it beat second-quarter earnings, led by strength in mobile revenue.

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

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

"We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," CEO and founder Mark Zuckerberg said in the press release. "The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future."

Also showing strength was payments revenue, which rose 11% year-over-year to come in at $214 million.

The company ended the quarter with 1.15 billion monthly active users (MAUs), up 21% year over year. There was a 51% annual increase in mobile MAUs, which drove the strength in mobile revenue. Daily active users (DAUs) were 699 million, up 27% annually.

Facebook's expenses have been a concern in the past, and the social network noted non-GAAP costs for the quarter were $1.02 billion, up 52% year over year. Capital expenditures for the second quarter fell 35% year over year to $268 million.

The company ended the quarter with $10.3 billion in cash and marketable securities.

Shares of Facebook ended the regular session higher, gaining 1.45% to close at $26.51. The stock is soaring in after-hours, gaining 15.99% to $30.75 according to Nasdaq.com.

-- Written by Chris Ciaccia in New York

>Contact by Email.

More from Technology

Tesla's Supercharger Network Is Booming -- Here's Why That's a Concern

Tesla's Supercharger Network Is Booming -- Here's Why That's a Concern

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

Listen: Should You Buy Cisco Now?

Listen: Should You Buy Cisco Now?

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense