Mobile ads drive huge growth for Facebook

Facebook has announced a rise in net income for the second quarter of this year of almost 140%.

Revenue from advertising, which makes up most of Facebook's income, was up 67% on the same time last year.

The vast majority of the company's 1.32 billion active users every month are on mobile devices.

Aidan Donnelly, from Davy Stockbrokers, said mobile advertising was driving Facebook's growth.

"Core advertising has been extremely good, but mobile advertising is the engine. It's up over 150% year on year," he said.

"Facebook are at long last beginning to monetise their active users."