Buoyed once again by strong mobile ad revenues, Facebook crushed investor expectations with a much higher-than-expected third-quarter profit of 25 cents a share on revenues up 60% from a year ago, to $2.02 billion.
Shares rose in immediate after-hours trading by 10% or more to top a new high of more than $56 a share.
Analysts had expected Facebook to post a profit of 19 cents a share, up from 12 cents a year ago, on a 52% rise in revenues to $1.9 billion. Facebook's shares, which have nearly doubled in the past quarter to as high as $54.83, closed down a little under 1% today, to $49.02. The day after the second-quarter report that showed strong mobile ad revenues, Facebook's shares jumped 26%.
More details to come, but meantime, Facebook provided the following highlights:
* Revenue: $2.02B up 60% from last year (ahead of analyst consensus which was $1.91 billion on average)* Revenue from advertising: $1.80B, up 66% from last year * Mobile Ad Revenue: 49% of advertising revenue during the third quarter (up from 14% in Q3 2012)* Payments and other fees revenue: $218 million* Earnings per share: $0.25 ( beat consensus of $0.19)* ARPU, average revenue per user, is up to $1.72 * representedMobile revenue 49% of advertising revenuefor Q3, approx. $881 million* Mobile MAUs grew 45% year-over-year to 874 million* Mobile DAUS were 507 million on average for September 2013* MAUs were 1.19 billion as of September 30, 2013 up 18% year-over-year * DAUs were 728 million on average for September 2013 up 25% year-over-year
The earnings conference call will begin at 2 p.m. Pacific. You can watch the webcast and get earnings info on the company's investor website. I'll post the highlights as they happen, so keep refreshing to get the latest.
Posted by Unknown on Wednesday, October 30, 2013 - Rating: 4.5
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