Facebook announced that its profits more than doubled and revenue exceeded estimates for the ninth straight quarter due largely to mobile ad growth. About 62 percent of the social network’s ad revenue now comes from mobile devices. According to eMarketer, advertising for mobile this year is projected to surpass advertising for newspapers, magazines and radio for the first time. Facebook also added another 40 million registered users, with the daily login increasing by 27 million.

During the second quarter, 1.32 billion people logged into Facebook once a month, a 3.5 percent increase from the previous quarter.

“Facebook also continued to show it can weather concerns that it is losing its cool’ factor among teens or irking users around privacy,” explained The Wall Street Journal.

The social networking site has also worked more premium video advertising in, hoping big brands will spend more.

“Facebook is projected to command about 18 percent of the roughly $17.7 billion U.S. mobile ad market this year, up from 9 percent two years ago, according to eMarketer,” says WSJ. “Google will remain No. 1, but its share is expected to fall to 39.8 percent from 49.8 percent during that time.”

In June, 200 million unique users visited Facebook and Instragram, making the company second to those controlled by Google and Yahoo.