Social media network rakes in $6.44 billion revenue, now has 1.72 million users

11:09 - 01 August 2016

Facebook CEO Mark Zuckerberg speaks on stage during the Facebook F8 conference in San Francisco, California April 12, 2016. REUTERS/Stephen Lam

According to Facebook, monthly users via mobile increased 20% year-on-year, while mobile daily users increased 22% year-on-year.

Right now, Wall Street is very happy with Facebook. The social media giant breezed past analyst estimates at it earnings calls for the third quarter by posting $6.44 billion in revenue and $0.97 EPS, a 63% increase year-on-year.

Leading up to the earnings call, Wall Street analysts had expected Facebook to hit $6.02 billion in revenue and $0.82 EPS.

About 84% of Facebook's total revenue came from mobile ad revenue, up 81% year-on-year. Monthly active users on the social network hit 1.7 billion during the third quarter, while daily active users hit 1.13 billion.

ALSO READ: Facebook's instant messaging service has hit 1 billion monthly users

Facebook's shares rose about 6% in after-hours trading after the earnings call to over $131 per share. Previously, Facebook's all-time closing high during regular hours was $121.92.

"Our community and business had another good quarter," said Mark Zuckerberg, Facebook founder and CEO. "We're particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services."

Recently, Facebook-owned platforms like WhatsApp, Instagram and more recently Messenger have all hit one billion monthly active users.