The social networking site reported a $562m profit, compared to a loss of $157m in the second quarter last year.

Revenues rose on the same period last year, up 53% to $1.81bn and ahead of analysts’ expectations of $1.62bn.

Earnings per share of 19 cents also exceeded expectations of 14 cents per share.

Facebook founder Mark Zuckerberg said mobile advertising, which rose from 30% to 41% of revenues, was a major catalyst for the better-than-expected results.

“We have made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile,” he said in a statement.

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

Shares rose sharply on the news, hitting $31.80 shortly after the announcement – the highest level since March 2012’s IPO.