Mobile advertising revenue represented about 41 percent of Facebook's $1.60 billion in total advertising revenue in the quarter. Mobile made up just 30 percent of ad revenues in Q1.
"They've taken three or four quarters to try to fix the mobile issue," RBC Capital Markets analyst Mark Mahaney told CNBC. "They've gone from zero of their revenue being mobile to almost 50 percent now. That's pretty good evidence that they've fixed the mobile issue."
Mobile monthly active users were 819 million as of the end of the quarter, an increase of 51 percent over the same quarter last year. Mobile daily active users were 469 million on average for June.
Daily active users rose 27 percent to 699 million on average for June, while monthly active users averaged 1.15 billion as of the end of the quarter.
Facebook's earnings excluding items came in at 19 cents per share versus 12 cents per share a year earlier. Estimates called for the social media giant to post earnings of 14 cents per share on revenue of $1.62 billion, according to Thomson Reuters.
The stock surged in late trading, above the $30 mark for the first time in January 2013.