According to Business Insider, Facebook just smashed its 2nd quarter earnings for April to June. The company delivered a 59% increase that blew past Wall Street targets and sent its shares rocketing up 8% to a new all time high.

Facebook has however cautioned investors that it doesn’t expect as much growth in the coming quarters, largely due to “less of an increase in ad load to help drive revenue” (Business Insider, 2016). There has been a 49% increase in ad impressions this year but the amount of advertising in newsfeeds has nearly reached full capacity.

“84% of Facebook’s advertising revenue came from mobile, up from about 76% in Q2 2015” (Business Insider, 2016). The ratio of Daily active users (DAU) to monthly active users (MAU) was stationary at 66%. Wall Street estimated increased competition from the likes of Snapchat which is killing the mobile world.

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Facebook CEO Mark Zuckerberg said people spend over 50 minutes a day on apps such as Whatsapp, which is a double digit increase.

“Interestingly, there are more monthly access users at 1.57 billion who use the apps. This is a 20% rise year-over-year” (Business Insider, 2016).

“Most of Facebook’s revenue comes from North America and Europe at 75%, however the Asia-Pacific region, along with the rest of the world use the social media site more regularly” (Business Insider, 2016).