Facebook Earnings Report for Q3: Huge Increase in…
The Q3 2013 Earnings Report has just been announced and Facebook deserves a pat on the back! The social media platform’s revenue rose by a whopping 60%, reaching 1.19B monthly active users! Let’s take a look at the report.
Wednesday evening, Facebook announced their new earnings report, with a revenue of $2.02 billion! This is a 60% increase from last quarter, even surpassing Wall Street analysts’ predictions of 19 cents EPS on revenue of $1.9 billion. Facebook’s advertising revenue this quarter is at $1.8 billion, with 49% of the total coming from mobile advertising.
“It’s our first two billion dollar quarter, so that’s a nice milestone for us,” David Ebersman, CFO of Facebook, said in an interview. “We continue to grow the daily users of Facebook and engagement remains really strong as we execute against our priorities, particularly in mobile.”
Suffice to say, in contradiction to Nate Elliott’s Open Letter to Mark Zuckerberg, the numbers, along with our very own social survey findings, show that marketers are increasingly flocking to Facebook advertising for their social media campaigns.
“News Feed ads are working really well for us,” Ebersman said, stating it’s the number one thing driving Facebook’s business. “It’s a good product, and it enables marketers to reach a large audience of highly engaged people.”
Rise in Monthly Active Users
Facebook also reports 1.19 billion monthly active users as of the end of September, an 18% increase from Q3 2012. Daily active users also rose by 25%, boasting a figure of 728 billion. Zuckerberg stated in his press release,
“For nearly 10 years, Facebook has been on a mission to connect the world. The strong results we achieved this quarter show that we’re prepared for the next phase of our company, as we work to bring the next 5 billion people online and into the knowledge economy.”
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