Facebook posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, along with its user base.The company’s shares climbed nearly 4 percent in extended trading after the results came out, signaling that they could hit a record high when the stock market opens on Thursday.Facebook Inc. (FB) said Wednesday that it earned $788 million, or 30 cents per share, in the April-June period, up from $331 million, or 13 cents per share, in the same quarter a year ago.
Mobile ad revenue, a closely watched figure, was 1.66 billion, or 62 percent of Facebook’s total advertising revenue for the quarter. In the first three months of the year, mobile ads accounted for 59 percent of Facebook’s total ad revenue. The steady increase indicates that Facebook is succeeding in steering advertisers to its mobile platform at a time when most of its users are using mobile devices to access the social network. Facebook had 1.32 billion active users at the end of June, up 14 percent from a year earlier.