Facebook boosts revenue by 32 percent in first public financial report

Cameron Scott
29 July, 2012
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Facebook boosted revenue by 32 percent in its first earnings report as a public company, bringing in US$1.18 billion and topping analysts’ expectations.

The company blamed its net loss of US$157 million for the quarter that ended June 30 on the fact that after its IPO, it recognised US$1.3 billion of share-based compensation and related payroll tax expenses. Facebook had a US$240 million profit in the same quarter of last year.

Analysts polled by Thomson/First Call expected US$1.15 billion in revenue, adjusted for one-time expenses, earnings per share were in line with analysts’ expectations at US$0.12. Those earnings are based on an adjusted net income figure of US$295 million, slightly increased from adjusted net income of US$285 million in the same quarter of 2011.

As expected, mobile users were the growth highlight for the company, increasing 67 percent year-over-year to 543 million as of June 30. Monthly active users were up 29 percent to 955 million, while daily active users were up 32 percent to 552 million on average.

Advertising revenue accounted for 84 percent of the total take at US$992 million, up 28 percent year over year. Payments and other fees revenue were US$192 million in the quarter.


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