For the three months ending in June, Facebook posted $6.44 billion in revenue, a 59% increase on the second quarter of 2015, while profit rocketed by 189% to $2.06 billion year-on-year.
Mobile ad revenue continues to be Facebook’s major source of revenue, representing 84% of ad revenue in Q2, up from 76% during the same period last year.
It also reported a 17% increase in daily active users to 1.13 billion on average for June, while monthly active users increased by 15% to 1.71 billion in June.
Facebook did not report how much revenue it makes from video specifically. However, in a statement, CEO Mark Zuckerberg 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," he said.
On an earnings call, Facebook COO Sheryl Sandberg said advertiser demand is increasing, in contrast to Twitter which said this week a lack of demand is impacting on its revenue.
According to eMarketer, Facebook’s global ad revenue will hit £23.31 billion this year, making it the number two online ad publisher behind Google. Globally, each Facebook user will generate $15.83 for the company, eMarketer has estimated.