Facebook CEO Mark Zuckerberg speaks at the Facebook Communities Summit, in Chicago, in advance of an announcement of a new Facebook initiative designed to spur people to form more meaningful communities with Facebook's groups featureFacebook Mark Zuckerberg, Chicago, USA - 21 Jun 2017

MARKET SHARE GRAB: The digital appetite for advertising dollars shows no sign of waning.

Facebook’s second-quarter ad revenues jumped 47 percent to $9.2 billion, with about 87 percent of the company’s advertising revenues coming from mobile. The increase drove a 71 percent gain in profits to $3.9 billion.

With the understatement that usually characterizes his comments in the company’s quarterly update, Facebook founder and chief executive officer Mark Zuckerberg said: “We had a good second quarter and first half of the year. Our community is now two billion people and we’re focusing on bringing the world closer together.”

If Facebook’s eaten the print industry’s lunch, Google has taken dinner and the midnight snack. Last week, the search giant logged second-quarter advertising revenues of $22.7 billion, a 15.6 percent increase.

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