Facebook Inc (FB) Q2 2017 Earnings Surprise Wall Street

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The social media giant said that it had $1.32 in earnings per share (EPS) and $9.32 billion in revenue versus consensus estimates from Thomson Reuters that called for $1.13 in EPS and $9.2 billion in revenue.

While other social companies user bases stall, Facebook's rose to more than 2 billion monthly active users in the second quarter.

Facebook with $9.2b revenue, exhibited twice the growth as that of Google in ad sales but it might have hit a ceiling and need more ad space. In Q2, a whopping 87% of advertising revenue was attributed to mobile, up from around 84% in the year-ago period. Monthly active users totaled 2.01 billion, up 17% from a year ago.

During the earnings call, CEO Mark Zuckerberg discussed how he sees artificial intelligence changing Facebook's business.

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"Just a year ago, we shared that one billion people around the world use WhatsApp every month". Or rather, it's being deliberate about how it profits from it on its core Facebook app - by limiting the number of ads in its news feed, and in follow-up acts like Instagram, Messenger and WhatsApp.

Fast forward to 2017, and Facebook is taking a more traditional approach: it has started letting marketers place ads inside the Messenger app, while bots take more of a backseat role. Shares are up more than 35 percent in the a year ago.

Facebook told developers and businesses the Messenger ads would only be for brands that people "love" or that offer an "opportunity to discover experiences".

Facebook is upbeat with a strong Q2 2017 earnings report despite slower user growth.

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The Facebook Inc (NASDAQ:FB) growth story apparently has no end.

Analysts on average had expected total ad revenue of $9.02 billion, according to data and analytics firm FactSet. "Video will continue to be a big focus and area of investment for us", he said.

Facebook acquired WhatsApp for $19 billion in 2014.

But doubling down on monetization in Messenger, and then perhaps WhatsApp down the line, will be the last phase in a three-step process, Wehner said. That's because ad load is maxed out across its services, Mr. Wehner said, and the company expects ad impressions from video initiatives to grow relatively slowly as it gets new ad products off the ground.

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During the past year, Facebook increased the global headcount by 43% to 20,658. Capital expenditures reached $1.44 billion, while cash and equivalents on hand soared to $35.45 billion, with years of profits giving Facebook an ample war chest to acquire other companies.

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