Facebook has announced a 138% rise in net income for the second quarter to $791m (£464m).
Revenue from advertising, which makes up most of Facebook’s income, was $2.68bn, up 67% compared with the second quarter of 2013.
Adverts on mobile devices now account for 62% of advertising revenue, which is a spectacular rise as mobile ads accounted for almost nothing in 2012.
But Facebook’s rapid expansion has resulted in a sharp rise in costs.
‘Opportunity ahead’
Expenses were $1.52bn in the second quarter up 22% from 2013.
“We had a good second quarter,” said Facebook founder and chief executive Mark Zuckerberg in a statement accompanying the results.
“Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world,” he said.
The company now has 1.32 billion active users every month, up 14% on last year.
Of those users more than a billion are on mobile devices.
Facebook recently bought the maker of virtual reality headsets Oculus VR
To try and maintain its lead in the technology industry Facebook has made big purchases this year.
In March it announced the purchase of Oculus VR a maker of virtual reality headsets and in February it bought social media firm WhatsApp.
BBC.