Facebook reported revenue of $2.91 billion for the second quarter -- a 61% year-over-year increase -- with about two-thirds of that total coming from its mobile efforts. The company said about 400 million of its monthly active users access the network solely through mobile devices. The strong financial results will allow Facebook to avoid "the cheap and easy approach" when it comes to monetizing its other services, such as messaging, CEO Mark Zuckerberg said.

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