Social Media Kingpin Facebook $FB reported third quarter earnings on Wednesday beating estimates handidly. Active users and mobile ads were both up strongly.
Social Media Kingpin Facebook $FB reported third quarter earnings on Wednesday beating estimates handidly. Active users and mobile ads were both up strongly.With the Nasdaq on a tear, $FB third-quarter earnings report was watched eagerly.
Earnings: Revenue of $10.3 billion, beating consensus estimate of $9.88 billion and up 47% from the year-ago quarter. Earnings were $1.59 a share, beating consensus estimate of $1.29 and up 77% on the year.
Reaction: NASDAQ: FB After-hours $184.09 +1.43 (+0.78%)
- Mobile ad revenue of $8.9 billion made up 88% of total revenue, up from 84% a year ago.
- Third-quarter ad revenue rose 49% to $10.1 billion, beating the consensus of $9.71 billion.
- Facebook said average daily active users came to 1.37 billion in the quarter, up 16% from the year-ago quarter,
- Monthly active users reached 2.07 billion, also up 16%. The company said 66% of monthly active users visit the Facebook site every day.
What About Snapchat?
The seeming demise of $SNAP has also helped Facebook’s cause. By June Facebook’s Instagram Stories feature had grown to 250 million users which has further undermined its chief competitor, Snapchat $SNAP. This was up from 200 million in mid-April. Snap ended Q117 with 166 million users which was up 36% from the year-ago quarter.
Stories was added in August 2016, is a feature inside Instagram. $FB has in this time copied the most popular features of Snapchat. Instagram has over 700 million monthly users, doubling in just two years.
How pervasive are these internet monsters in our lives? A report from Research firm Comscore ranking online hits on mobile devices and computers gives us an idea. The growth of Facebook is a cultural phenomenon, last month $FB reached 2 billion monthly active users, doubling its base in just 4 1/2 years. The Q117 earnings number was 1.94 billion monthly active users.
Unique visitors in June via Comscore
- Google 241 million
- Facebook 204 million
- Yahoo! 186 million
- Microsoft 183 million
- Amazon 180 million
Online advertising Industry Revenue Share via emarketer
Of a forecast $83 billion revenue in 2017 the market share is expected as 40% Google and 21% Facebook.
From Last Month: Facebook $FB Buys tbh Anonymous App To Compete With $SNAP
Facebook reported capital expenditures for the third quarter of $1.76 billion. It ended the quarter with cash and equivalents of $38.29 billion.