Facebook Posts $1.26 Billion In Q3 2012 Revenue
Facebook has announced their financial results for Q3 2012 after the stock market closed. Facebook posted Q3 revenue of $1.26 billion (up 7%) from Q2 2012 of $1.18 billion and 32% of $954 million in revenue from Q3 2011 before they went public. Facebook’s Q3 2012 net income on a non-GAAP basis was $372 million (up from the $295 million in non-GAAP net income) and up from the $227 million in net income they reported one year ago in Q3 2011.
Based on a GAAP basis, Facebook posted a loss $59 million during the third quarter. The difference between non-GAAP and GAAP mainly is income taxes and payroll tax adjustments.
The Wall Street Journal was projecting that Facebook would hit revenues of $1.23 billion and non-GAAP profits of 11 cents per share. After the first ten minutes of the Q3 report being published, Facebook’s stock was up nearly 2.5%.
Facebook CEO Mark Zuckerberg said that the company now has 1 billion users and has over 600 million people now sharing and connecting on Facebook every month using mobile devices. Below is a statement from Mr. Zuckerberg.
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“As proud as I am that a billion people use Facebook each month, I’m also really happy that over 600 million people now share and connect on Facebook every month using mobile devices. People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company.”