Is Facebook Growing Fast Enough?
Facebook released its second quarter financial results after the markets closed on Wednesday. The social media giant said that it had $1.74 in earnings per share (EPS) and $13.23 in revenue, compared with consensus estimates from Thomson Reuters that called…
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Facebook, Inc. (NASDAQ: FB) released second quarter financial results after markets closed Wednesday. The social media giant said that it had $1.74 in earnings per share (EPS) and $13.23 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $1.72 in EPS and $13.36 billion in revenue. The same period from last year had $1.32 in EPS and $9.32 billion in revenue.
During the quarter, daily active users (DAUs) were 1.47 billion on average for June 2018, an increase of 11% year-over-year. At the same time, monthly active users (MAUs) were 2.23 billion as of June 30, 2018, an increase of 11%.
Mobile advertising revenue represented roughly 91% of advertising revenue for the second quarter of 2018, up from about 87% of advertising revenue in the second quarter of 2017.
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The company did not offer any guidance for the coming quarter. However, there are consensus estimates calling for $1.82 in EPS and $14.25 billion in revenue.
Mark Zuckerberg, Facebook founder and CEO, kept it short and sweet:
Our community and business continue to grow quickly. We are committed to investing to keep people safe and secure, and to keep building meaningful new ways to help people connect.
Shares of Facebook closed Wednesday at $217.50, with a consensus analyst price target of $233.08 and a 52-week range of $149.02 to $218.52. Following the announcement, the stock was down about 8% at $199.66 in the after-hours trading session.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
