Facebook boosts revenue by 32 per cent in first public financial report
- 26 July, 2012 20:48
Facebook boosted revenue by 32 per cent in its first earnings report as a public company, bringing in US$1.18 billion and topping analysts' expectations slightly.
The company blamed its net loss of $US157 million for the quarter that ended June 30 on the fact that after its IPO, it recognized $US1.3 billion of share-based compensation and related payroll tax expense; Facebook had a $US240 million profit in the same quarter of last year.
Analysts polled by Thomson/First Call expected $US1.15 billion in revenue. Adjusted for one-time expenses, earnings per share were in line with analysts' expectations at $US0.12. Those earnings are based on an adjusted net income figure of $US295 million, slightly increased from adjusted net income of $US285 million in the same quarter of 2011.
As expected, mobile users were the growth highlight for the company, increasing 67 per cent year-over-year to 543 million as of June 30. Monthly active users were up 29 per cent to 955 million, while daily active users were up 32 per cent to 552 million on average.
Advertising revenue accounted for 84 per cent of the total take at $US992 million, up 28 per cent year over year. Payments and other fees revenue were $US192 million in the quarter.
Cameron Scott covers search, web services and privacy for The IDG News Service. Follow Cameron on Twitter at CScott_IDG.
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