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Facebook 2Q Earnings Beat
Facebook $FB reported second-quarter earnings after the market close Wednesday that beat on the top and bottom line. Mobile advertising revenue represented approx. 87% of the advertising revenue during the quarter.
Earnings: Revenue of $9.32 billion, beating consensus estimate of $9.17 billion and up 45% from the year-ago quarter. Adjusted earnings of $1.32, beating the consensus estimate of $1.12 a share.
Reaction: Facebook Common Stock NASDAQ $FB After-hours: 168.81 +3.20 (+1.93%), Facebook stock is up 43% this year.
Mobile ad revenue: $8 billion vs. $7.68 billion expected
Monthly users (MAUs): 2.01 billion vs. 1.98 billion expected
Capital expenditures: $1.44 billion vs. $1.73 billion expectedMore on FB after their conference call;
$FB, that plans to monetize its 1.2Bil user Messenger app, posted 71% growth in 2Q17 earnings, due to increase in mobile ad sales. Net income rose to $3.89Bil from $2.28Bil in 2Q16. Diluted EPS rose 69% to $1.32 from $0.78. User activity continues to grow, as daily active users rose 17% YoY to 1.32Bil and monthly active users rose 17% to 2.01Bil.
$FB’s average revenue per user during 2Q17 trends upwards across the world, yet the majority of the revenue was contributed by US and Canada. which rose 35% to $19.38 much higher when compared to $4.73 from worldwide.
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