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Facebook Profits Leap After Push Into Video

(c) Sky News 2016

Facebook (NasdaqGS: FB - news) has seen its second quarter profits leap 186% from a year ago to $2bn, the company has announced.

The figure came as it also revealed the number of users has risen to 1.71 billion from 1.49 billion a year earlier.

Mark Zuckerberg, Facebook founder and chief executive, said: "Our community and business had another good quarter.

"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."

The firm put the rise in profits from advertising down to the growth of its mobile app and a push into video.

Facebook's total advertising revenue rose 63% to $6.24bn, beating the average analyst estimate of $5.80bn.

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Company shares rose 6.7% in after hours trading following the announcement.

Facebook has benefited as advertisers have increasingly moved money away from traditional media such as television and print.