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Facebook reports a strong quarter with revenue up 53 per cent
- — 24 July, 2013 20:52
Facebook's revenue rose 53 percent during the second quarter amid continued gains in mobile advertising revenue share, the company reported.
Sales for the quarter ended June 30 were US$1.81 billion, up 53 per cent compared to $US1.18 billion during the same period last year. Financial analysts polled by Thomson Reuters had forecast second-quarter sales of $US1.62 billion.
The company's advertising revenue was $US1.6 billion, representing 88 per cent of total revenue, the company reported, and a 61 per cent increase from the same quarter last year.
The company posted profits, meanwhile, of $US333 million, at $US0.13 per share, compared to a net loss of $US157 million for the second quarter of 2012, at $US0.08 a share.
Excluding share-based compensation expenses and related payroll tax expenses and adjustments, the company reported earnings per share of $US0.19, topping analyst estimates of $US0.14.
Mobile advertising revenue, which Facebook faces mounting pressure to grow as more users migrate away from the desktop, constituted 41 per cent of total advertising revenue for the quarter.
Facebook has been reporting steady gains in mobile advertising revenue since the company first launched mobile ads last year. As a percentage of total ad revenue, the company's mobile advertising revenue has risen from 14 per cent in 2012's third quarter, to 23 per cent in the fourth quarter, and finally to 30 per cent last quarter.
"We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," CEO Mark Zuckerberg said in a statement. "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," he added.
Facebook also during the quarter surpassed 1 million active advertisers, driven by strong growth in local businesses, the company said.
Facebook reported strong gains in user growth too. Monthly active users were 1.15 billion as of June 30, the company said, up 21 per cent from the year-ago period.
On mobile, monthly active users were 819 million, representing a 51 per cent increase.
The company said in January that building new mobile products would be a focus for the year.