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Facebook聽is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often.

The company's shares climbed nearly 4 percent in extended trading after the results came out, signaling that they could hit a record high when the聽stock聽market opens on Thursday. Investors who bought 鈥� and held on to 鈥斅燜acebook聽stock聽during the company's initial public offering two years ago are now close to doubling their money.

Facebook聽Inc. (FB) said Wednesday that it earned $788 million, or 30 cents per share, in the April-June period. That's up from $331 million, or 13 cents per share, in the same quarter a year ago.

Adjusted earnings were 42 cents per share, handily beating Wall Street's expectations of 33 cents, according to a poll by Zacks Investment Research.

Facebook's聽revenue jumped 61 percent to $2.91 billion from $1.81 billion in the same quarter a year ago. Analysts expected $2.8 billion. This was the fifth quarter in a row that聽Facebook聽beat Wall Street's forecasts.

Advertising revenue jumped 67 percent to $2.68 billion. Mobile ad revenue, a closely watched figure, was 1.66 billion, or 62 percent ofFacebook's聽total advertising revenue for the quarter. In the first three months of the year, mobile ads accounted for 59 percent ofFacebook's聽total ad revenue.

The steady increase indicates that聽Facebook聽is succeeding in steering advertisers to its mobile platform at a time when most of its users are using mobile devices to access the social network.

Facebook聽had 1.32 billion active users at the end of June, up 14 percent from a year earlier. On average, 829 million people used Facebook聽every day in June, up 19 percent from a year earlier. The number of people who log in at least once a day on mobile devices was 654 million on average in June, up 14 percent from a year earlier.

"We had a good second quarter," said CEO Mark Zuckerberg in a statement. "Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world."

Facebook聽has been growing its share of the worldwide digital advertising market, but it's still a long way from catching up to rival Google Inc. In 2013,聽Facebook聽had a nearly 6 percent share of the market compared with Google's 32 percent according to research firm eMarketer. This year,聽Facebook聽is expected to grow its slice to nearly 8 percent, while Google's should decline slightly, to just below 32 percent.

Facebook's聽stock聽jumped $2.77, or 3.9 percent, to $74.06 in extended trading after the results came out. The聽stock聽had closed up $2.02 at $71.29.

Shares of the Menlo Park, California-based company have climbed $16.64, or 30 percent, to $71.29 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.5 percent. The聽stock聽has more than doubled in the last 12 months.