Facebook Inc (FB) Reports Q3 Sales At $2.02 Billion
Facebook Inc (NASDAQ:FB) has reported their Q3 numbers today at earnings per share of 25 cents on revenues of $2.02 billion. This beats analyst expectations of 19 cents EPS on revenues of $1.9 billion. Facebook saw strong growth on mobile revenues. Mobile revenues accounted for 49% of Facebook’s overall advertising revenues, which is a major increase of 14% in the year ago quarter.
“It’s our first two billion dollar quarter so that’s a nice milestone for us,” stated Facebook CFO David Ebersman. “We continue to grow the daily users of Facebook and engagement remains really strong as we execute against our priorities, particularly in mobile.”
Facebook’s mobile monthly active users hit 874 million users from 819 million users in the previous quarter. Now Facebook has 1.19 billion users overall on their platform.
Facebook’s third quarter income rose to $425 million (17 cents a share) from a loss of $59 million (2 cents a share) in the quarter last year. Revenue from advertising jumped 66% to $1.8 billion. Facebook’s non-GAAP operating margin increase to 49% from 42% last year.
The revenue from mobile ads added up to around $880 million based on the 49% total ad revenue figures. Mobile ads hit around $150 million in the year ago period.
“We’ve made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile,” stated Facebook Inc (NASDAQ:FB) CEO Mark Zuckerberg. “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.” This quarter that number grew to 49 percent.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry