Facebook reported quarterly results Wednesday that topped analyst estimates on nearly every metric.
The company said its adjusted second-quarter earnings came in at 50 cents per share on $4.04 billion in revenue. Wall Street analysts forecast Facebook would deliver earnings of 47 cents per share on $3.99 billion in revenue, according to a consensus estimate from Thomson Reuters.
"The quarter was a great quarter almost any way you look at it," David Wehner, Facebook's CFO, told CNBC after the earnings came out.
Despite the beat, Facebook shares fell about 5 percent in after-hours trading soon after the announcement, but then pared some of those losses as traders digested the report and comments from executives. Saying he couldn't comment on the extended-hours stock movement, Wehner emphasized that "the important story here is we're executing well on the business, the community is growing, engagement is strong."
Facebook said it saw monthly active users (MAUs) of 1.49 billion for June, with 1.31 billion MAUs on mobile.
Analysts had expected total average MAUs around 1.48 billion, with the mobile MAU number reaching 1.29 billion, according to StreetAccount.
"The real story here is just the core mobile business on Facebook, that's what's driving the growth—mobile's been just a phenomenal growth driver for us," Wehner said. "We didn't have a mobile business three years ago, and that's now three quarters of our ads revenue."
Daily average users came in at 968 million—besting Wall Street's expectations of about 960 million. Engagement, meanwhile, came in at more than 46 minutes-per-day on average across Facebook, Instagram, and its Messenger app, Wehner said.