Facebook revenue beats estimates with growth in advertising sales

Profit and the Facebook quarterly revenue surpassed Wall Street estimates, as the popular mobile application and an effort with videos have attracted new advertisers, and encouraged advertisers to invest more current.
Facebook shares soared 6,7% after closing on Wednesday. Total revenue climbed 59,2% to 6.44 billion dollars, up from 6 billion projection.
The net profit attributable to shareholders of Facebook has risen to 2.05 billion dollars, or 0.71 dollar per share, in the quarter ended June 30, compared with 715,000,000 dollars, or 0.25 dollar per share, the previous year.
Excluding items, the company earned 0.97 dollar per share. On average, analysts expected profit of 0.82 dollar per share, according to Thomson Reuters.
The company''s revenue with mobile advertising accounted for 84% of the total advertising revenue, compared to 76% last year.
Facebook has benefited from the migration of advertisers, who fail to put money in to invest in internet TV and mobile platforms. The company has high market presence of mobile videos, where Snapchat and Youtube are strong competitors.