Facebook has posted revenues of $4bn (£2.6bn) for Q2 2015, up 38.9 per cent year-on-year.

However, net profits fell by 9.1 per cent to $791m, due to the company spending $1.2bn on R&D during the quarter. “2015 is an investment year,” said CFO David Wehner on the earnings call.

Wehner said the company was “investing for the growth of both Facebook at its core and then also the additional services that were bringing on” – such as Oculus, the VR company Facebook acquired last year.

94.6 per cent of Facebooks revenues came from advertising, as the rest of its revenues – which it refers to as payments and other fees – shrank from $234m in Q2 2014 to $215m. This drop was “driven by a 19 per cent reduction in payments revenue related to games played on personal computers, offset primarily by the addition of other revenue related to acquisitions closed in the second half of 2014”, according to Wehner.

The star of Facebooks earnings, as usual, was mobile. Mobile advertising brought in 76 per cent of advertising revenue during Q2, compared to 62 per cent a year earlier.