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Facebook domination continues as profit nearly triples in the past year



Strong mobile ad sales and an increase in the number of users drove the company's profits, CEO Mark Zuckerberg said in a conference call.

Mobile ad revenue increased 81 percent, CNBC reports.

That domination isn't going away any time soon. Research firm eMarketer predicts Facebook will  take about 68 percent of social-media advertising dollars this year.  

The social media company's second-quarter earnings reported on Wednesday indicated sales totaled $6.44 billion for the quarter, 59 percent up from last year. The company's profit nearly tripled to $2.06 billion. 

Facebook now has 1.71 billion active monthly users, also up approximately 15 percent from last year.

Going forward, Facebook will be betting big on video and video advertising.

"We see a world where video is first, with video at the heart of all of our apps and services," Zuckerberg said in a conference call with investors according to The New York Times.

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