Social network Facebook has published its financial results for Q2 2013, with mobile advertising accounting for over 40% of total revenues.

Facebook earned $333m (£217m) between April and June, up from a loss of $157m (£102.5m) in the same quarter in 2012. Revenue grew 53% to $1.8bn (£1.18bn) from $1.2b (£780m) - the highest growth in revenue since Facebook's pre-IPO days of 2011.


Mobile advertising revenues reached $655.6m for the quarter, with the number of mobile users expanded 51% to 819 million. With the global mobile ad market at an estimated $8.8bn (£5.75bn) Facebook are making important inroads into Google's dominance.

 "We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," said founder and chief executive Mark Zuckerberg.


 "The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future."

With profits of $333m (£217m) and Facebook's unique placement as the ideal platform for mobile advertising, when trading began in New York Thursday morning, Facebook shares were 25.6% higher at $33.30, the highest since May 2012.