Facebook’s Second-Quarter Revenue, Profit Tops Estimates

Facebook Inc.’s revenue surged 61 percent in the second quarter, fueled by mobile advertising, sending the stock soaring in extended trading past its all-time closing high.

Sales rose to $2.91 billion for the period from $1.81 billion a year earlier, topping the average analyst estimate of $2.81 billion, according to data compiled by Bloomberg. Promotions on wireless devices accounted for 62 percent of advertising sales, the company said in a statement today. That was up from 59 percent in the prior period and from almost nothing at the time of Facebook’s 2012 initial public offering.