Facebook soared past forecasts in its second quarter with profits of $1.1 billion more than double what net income was a year earlier. Advertising pricing saw a substantial boost at 123% growth year over year. Facebook was able to charge a premium for its advertising space due to a favorable mix of mobile, newsfeed and side-bar real estate, while audience targeting improvements helped to drive higher engagement. Facebook was also able to expand its margins substantially on the success of those advertising initiatives. Adjusted EBITDA margins spiked 1,200 basis points year over year to 68% this quarter.