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Facebook profits surge on mobile ads

24 July 2014 Last updated at 02:28 BST

Facebook has announced a 138% rise in net income for the second quarter to $791m (£464m).

Revenue from advertising, which makes up most of Facebook's income, was $2.68bn, up 67% compared with the second quarter of 2013.

Adverts on mobile devices now account for 62% of advertising revenue, which is a spectacular rise as mobile ads accounted for almost nothing in 2012.

Analyst Tim Charlton gave his reaction to Facebook's latest set of results.

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