Facebook results excel on user base and ad growth

Facebook has surpassed expectations on all fronts in its second quarter, growing in not just profit and revenue, but in its already-massive user base and mobile advertising and usage of its “family” of apps like Instagram, Messenger and WhatsApp.

Nevertheless, the world’s largest online social network’s stock price slid after the quarterly results came out, as expenses soared 82% and cut into earnings. Some investors may have been waiting for even better results, or looking to cash in profits with Facebook’s shares trading near record highs.