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Facebook Q2 Profit More Than Doubles

By Associated Press - Jul 23, 2014 at 4:42PM

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Facebook said revenue climbed 61% to $2.91 billion from $1.81 billion in the same quarter a year ago.

MENLO PARK, Calif. (AP) -- Facebook this afternoon reported profit that more than doubled in its second quarter, and topped analysts' expectations.

The Menlo Park-based company said earnings rose to $788 million, or $0.30 per share, from $331 million, or $0.13 per share, in the same quarter a year ago.

Earnings, adjusted for stock option expense, were $0.42 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $0.33 per share.

The company said revenue climbed 61% to $2.91 billion from $1.81 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $2.8 billion, according to Zacks.

Highlights the company noted included:

  • Daily active users (DAUs) were 829 million on average for June, a 19% year-over-year increase.
  • Mobile DAUs were 654 million on average for June, up 39% YOY.
  • Monthly active users (MAUs) were 1.32 billion as of June 30, a YOY  increase of 14%.
  • Mobile MAUs were 1.07 billion as of June 30, an increase of 31% year-over-year.

Facebook shares have climbed $16.64, or 30%, to $71.29 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.5%. The stock has increased $44.78, or more than doubled, in the last 12 months.

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