Facebook comes out on top, beats in Q2 earnings report

Facebook reports $2.91B in revenue, with EPS of 42 cents, for the second quarter

Financial trends and news by Steven Loeb
July 23, 2014
Short URL: http://vator.tv/n/3844

Shares of Facebook are up 5%, in after-hours trading, after the company posted second-quarter results that handily beat Wall Street expectations.

The stock has risen 0.93%. Facebook shares had gone up 2.92% or $2.02, to $71.29 a share in regular trading on Wednesday.

In the earnings report, Facebook posted revenue of $2.91 billion for the quarter, beating Wall Street's estimates of $2.81 billion. Adjusted earnings per share came in at 42 cents in the quarter, higher than the 32 cents a share that analysts had been expecting.

"We had a good second quarter," Mark Zuckerberg, Facebook founder and CEO. said 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."

Advertising revenue was $2.68 billion for the quarter. It increased 67% from the same quarter the year before. Mobile accounted for 62% of that revenue, up from approximately 41% of advertising revenue in the second quarter of 2013.

Revenue from payments and fees for the quarter was $234 million, a 9% increase year ro year.

GAAP net income was $791 million, a 138% increase from the $333 million for the second quarter of 2013, while non-GAAP net income for the quarter was $1.09 billion, up 124% compared to $488 million for the second quarter of 2013.

Daily active users (DAUs) were 829 million on average, an increase of 19% year-over-year, while mobile DAUs were 654 million on average, an increase of 39%.

Monthly active users (MAUs) were 1.32 billion on average, an increase of 14% year-over-year, while mobile MAUs were 1.07 billion on average, an increase of 31%.

Over the past couple of days, Facebook's stock saw modest gains, rising from $68.81 to $69.27.

For the year, the stock is up roughly 30%, rising from $54.83 to $71.29. It has also gained 330% from a year ago, when it was trading at $26.10 a share.

(Image source: inlimelight.com)