Facebook boss Mark Zuckerberg has hailed “another strong quarter” after reporting the number of people who check into the social network monthly grew 13% to 1.49 billion. The rise in monthly active users helped drive second quarter revenue up 39% to $4.04 billion. Mobile advertising revenue was the biggest factor, accounting for 76% of total advertising revenue.
Its results beat forecasts, but shares still fell 1.8% in after hours trading.
Analysts said the share price drop was linked to the high expectations for the firm, which typically tends to beat forecasts, as well as concern over its high expenses. Facebook said that costs and expenditures for the quarter had surged by 82% to a hefty $2.8 billion.