Facebook has released its second quarter earnings results, reporting revenues of $1.184 billion, up 32 percent from $895 million during the same period last year. The company’s non-GAAP (generally accepted accounting principles) income was $515 million, good enough for a net income of $295 million, and earnings per share (EPS) of $0.12.

However, the company’s GAAP numbers were significantly worse, owing to the massive $1.3 billion stock-based compensation charge related to its IPO. Taking that into account, Facebook reported a loss of $743 million for the quarter, and a $157 million hit to net income. Using GAAP accounting measures, EPS was a loss of $0.08.

It is also interesting to note Facebook’s Non-GAPP operating margin was 43 percent — down 10 percent year-over-year — something Facebook alluded to in the press release that accompanied today’s numbers, quoting founder and CEO Mark Zuckerberg as saying the company was very ”focused on investing in our priorities of mobile, platform and social ads.” The company has significantly expanded its team around the world and put new efforts into marketing and sales. Below is a look at Facebook’s expenses as a percentage of revenue, which shows where Facebook has begun investing.

As for revenue, Facebook took in $992 million from advertising and $192 million from payments and other fees. Advertising was 84 percent of total revenue and a 28 percent increase from the same quarter last year.

The company also announced it had 955 million monthly active users as of June 30, and an average of 552 million daily active users in June. Mobile MAUs were 543 million as of June 30, an increase of 67 percent year-over-year.

Additional reporting by Kathleen De Vere.