The social network Facebook reported Q2 earnings after the bell on Wednesday, and like Google, reported impressive revenue gains. In fact, its 47 percent gain in advertising likely will represent the lion’s share of ad gains in the quarter, something that will drive a number of publishers absolutely crazy.
Of course, many of those same publishers are the reason Facebook is doing so well, what with them making sure their content in on the those Facebook pages.
As for net income, that rose 71 percent. Google, thanks in part to its EC fine, reported lower net income, so unlike Google, Facebook’s stock is up a tick in after-hours trading.
Here is Facebook’s earning statement — which is about as minimal as one can get, by the way:
MENLO PARK, Calif., July 26, 2017 — Facebook, Inc. today reported financial results for the quarter ended June 30, 2017.
“We had a good second quarter and first half of the year,” said Mark Zuckerberg, Facebook founder and CEO. “Our community is now two billion people and we’re focusing on bringing the world closer together.”
Second Quarter 2017 Operational and Other Financial Highlights
- Daily active users (DAUs) – DAUs were 1.32 billion on average for June 2017, an increase of 17% year-over-year.
- Monthly active users (MAUs) – MAUs were 2.01 billion as of June 30, 2017, an increase of 17% year-over-year.
- Mobile advertising revenue – Mobile advertising revenue represented approximately 87% of advertising revenue for the second quarter of 2017, up from approximately 84% of advertising revenue in the second quarter of 2016.
- Capital expenditures – Capital expenditures for the second quarter of 2017 were $1.44 billion.
- Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $35.45 billion at the end of the second quarter of 2017.
- Headcount – Headcount was 20,658 as of June 30, 2017, an increase of 43% year-over-year.
The post Facebook reports ad revenue grew 47% in second quarter of this year, net income up 71% appeared first on Talking New Media.