Facebook, the leading social media is expanding its cash-rich social networking system and is expected to soon secure the older media shops that have been dropping their market positions to its statuses from the last 10 years.

The profiting giant recently declared a new app for iPhone that is amusingly called Paper. iPhone users will get access to this app from Feb. 3 on the iTunes Store. Paper is also cited to team up with Facebook’s newsfeed with trimmed content and informative stuff from partner sites like The Huffington Post and The New York Times etc.

Newest Facebook’s burst that has experience its 1.2 billion users quickly move their usage to smart phones and tablets. It also gained marketing or advertisements revenues.

Facebook disclosed its last quarter profit that has increased to a level beyond expectations. So, the investors favour the same by submitting likes and pushing the shares up. Some companies expected the social media to even earn more than this on its shares.

The top-end social network viewed the major part of its income move from showing promotions on its website to targeted ads on mobile platforms including the leading mobile apps. 53% of the revenues were accumulated from mobile platforms promotions in the 4th quarter of the last year, which is 23% higher than its earlier year.

Figures of sales also shoot up with 63% and touch the milestone of $2.58 billion from its earlier figure of $1.59 billion in the same time frame of the past year. Advertisements grab approx. 91% of the revenues in the entire picture of Facebook’s financial strength.

The social site also achieved second position as the most visited website on earth during previous 4th quarter, as per Alexa Internet Inc., a web-based monitoring company.

“This was a great quarter and a great way to end the year,” said Mark Zuckerberg, Facebook founder and CEO. “We saw strong growth in engagement around the world, and we’re very pleased with the growth of our ad business, especially on mobile.”

Facebook will continue to spread its wings on mobile platforms now with Paper along with other self-made mobile apps.

“Our vision for Facebook is to create a set of products that help you share any kind of content you want within the audience you want,” Zuckerberg said.