Categories AlphaGraphs, Earnings, Technology

Facebook’s Q2 results beat market estimates

Facebook Inc. (NASDAQ: FB) beat market expectations for both revenue and earnings in the second quarter of 2019, sending the stock climbing 1.4% in after-market hours on Wednesday.

Total revenues were $16.8 billion, up 28% from the same period last year, and ahead of estimates of $16.5 billion.  

Facebook beats market estimates on revenue and earnings for second quarter 2019

Net income grew 48% year-over-year to $2.6 billion or $0.91 per share. Excluding a one-time legal expense and income tax expenses, adjusted EPS would have been $1.99. Analysts had forecast EPS of $1.87.

Advertising revenues, which make up the majority of Facebook’s revenues, increased 28% year-over-year to $16.6 billion. Mobile advertising revenue represented approx. 94% of advertising revenue, up from approx. 91% of advertising revenue in the year-ago quarter. Revenue from payments and other fees rose 36% to $262 million.

Daily Active Users (DAUs) increased 8% year-over-year to 1.59 billion. Monthly Active Users (MAUs) also rose 8% to 2.41 billion.

Total costs and expenses increased 66% to $12.2 billion. Operating margin dropped to 27% in the second quarter from 44% in the year-ago period.

Facebook has been handed a record $5 billion fine by the Federal Trade Commission (FTC) over the company’s privacy policies. The settlement with the FTC also requires Facebook to create an independent privacy committee on its board of directors to remove unfettered control by Zuckerberg over decisions regarding user privacy. In the second quarter, Facebook recorded an additional $2 billion accrual in connection with its settlement with the FTC.

Facebook’s rival Snap Inc. (NASDAQ: SNAP) reported second quarter 2019 results on Tuesday, beating estimates. Another competitor Twitter Inc. (NYSE: TWTR) is set to report Q2 results on Friday.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Infographic: How Starbucks (SBUX) performed in Q1 2023

Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections.   Global comparable store sales increased

Earnings: Google parent Alphabet (GOOG, GOOGL) reports lower Q4 profit

Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search

HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results

Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,

Add Comment
Viewing Highlight