Facebook Up After Hours On Q2 Earnings Beat
Facebook (NASDAQ: FB) rose 4 percent in after hours action when its second-quarter results beat estimates by a wide margin on strong growth in daily users and advertising revenue.
Adjusted earnings rose 124 percent to $1.09 billion, or $0.42 cents a share, on revenue growth of 61 percent to $2.91 billion. Wall Street expected $0.32 cents a share in adjusted profits, on revenue of $2.81 billion.
Year-earlier adjusted earnings were $0.18 a share on revenue of $1.81 billion.
Including stock compensation and tax adjustments, net income for the recent period was $791 million, or 30 cents a share,
Advertising revenue jumped 67 percent to $2.68 billion from the same quarter last year. Excluding currency impacts, advertising would have increased by 65%.
Mobile advertising revenue equaled 62 of advertising revenue for the second quarter of 2014, up from 41 percent a year earlier.
Daily active users grew 19 percent to 829 million on average for June 2014, while in the mobile segment users increased 39 percent to 654 million year-over-year.
In after-hours trading, Facebook traded recently at $74.41, up 4.38 percent.
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