Facebook’s quarterly earnings report has seen the company explode past the $2 billion mark in quarterly revenue.

The company’s pivot to focusing on mobile advertising proved a winning strategy, bringing with it a surge of 220 million new users.

In addition, revenue generated from mobile advertisements outpaced Facebook overall growth rate at 80%.

All told, the company now sits at 1.71 billion users – with an average $3.82 in revenue for each of them.

Despite these gains, some remain sceptical that marrying the company’s fortunes to the attention spans of mobile users will prove a winning formula.

Citron Research’s Andrew Left told Bloomberg TV that “Investor expectations are a little bit outpaced the realities of what [Facebook are] going to face in the next 12 to 24 months.”

“We all are addicted to our phones, that we know, but what it shows is that people will do different things with their phone if given a choice … the company lives and dies on engagement levels,” Left said.