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Facebook domination continues as profit nearly triples in the past year

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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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