Facebook reported $1.18 billion in revenue for the second quarter of 2012–a profit of $295 million for the company’s first quarter as a public company.

Facebook managed to meet Wall Street estimates as well. USA Today has more: “Facebook was expected to report net income of $293 million, or 12 cents per share excluding options expenses, on revenue of $1.15 billion, according to the survey of estimates from Thomson Reuters.”

Advertising is still the major money-maker for  Facebook. As you can see by the company slide embedded above, $992 million of the social network’s Q2 revenue came from advertising while only $192 million of revenues came from “payments and other fees” from users. Follow this PDF link to see the whole slide presentation.