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Thursday, July 25, 2013
Facebook 2Q Results Beat Estimates

Facebook on Wednesday posted higher revenue from mobile ads and delivered a healthy second-quarter profit that reversed a loss in the same period a year ago.

The social network also reported an increasement in daily visitors to its service. Its daily active users were 699 million on average for June 2013, an increase of 27% year- over-year. Monthly active users were 1.15 billion as of June 30, 2013, an increase of 21% year-over-year. Mobile monthly active users were 819 million as of June 30, 2013, an increase of 51% year-over-year.

Sales for the quarter ended June 30 were US$1.81 billion, up 53 percent compared to $1.18 billion during the same period last year.

The company's advertising revenue was $1.6 billion, representing 88 percent of total revenue, the company reported, and a 61 percent increase from the same quarter last year. Mobile advertising revenue represented approximately 41% of advertising revenue for the second quarter of 2013.

The company posted profits, meanwhile, of $333 million, at $0.13 per share, compared to a net loss of $157 million for the second quarter of 2012, at $0.08 a share.

"We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," said Mark Zuckerberg, Facebook founder and CEO. "The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future."

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