Facebook tops Q2 estimates as mobile base, advertising grow

The current tech earnings season continues to be more positive for industry giants, from Google to Amazon to Intel, among several others.

Facebook proved not to be much different with better-than-expected second quarter results publishedon Wednesday.

Non-GAAP earnings were 50 cents per share on a revenue of $4.04 billion, up 39 percent annually.

Wall Street was looking for earnings of 47 cents per share with $3.99 billion in revenue.

The world's largest social network now stands at more than 1.49 billion monthly active users, representing a growth rate of 13 percent from the same quarter last year.

On mobile, growth was even bigger by 23 percent year-over-year to 1.31 billion as of June 30.

Mobile continues to be Facebook's sweet spot as mobile advertising revenue accounted for roughly 76 percent of all advertising revenue in Q2 2015, compared to 62 percent in Q2 2014.

"Engagement across our family of apps keeps growing, and we remain focused on improving the quality of our services," wrote Facebook CEO Mark Zuckerberg, in prepared remarks.

On a daily basis, Facebook is creeping toward one billion active daily users across all platforms. The daily active tally as of June 30 was 968 million, up 17 percent year-over-year. Mobile daily users totaled approximately 844 million, up 29 percent for the same time frame.

For the current quarter, Wall Street is looking for non-GAAP earnings of 50 cents per share with $4.35 billion in revenue.

Chart via Facebook Investor Relations