Facebook reports a strong Q2 with revenue up 53%
The company surpassed 1 million active advertisers during the quarter
IDG News Service - Facebook's revenue rose 53 percent during the second quarter amid continued gains in mobile advertising revenue share, the company reported Wednesday.
Sales for the quarter ended June 30 were $1.81 billion, up 53 percent compared to $1.18 billion during the same period last year. Financial analysts polled by Thomson Reuters had forecast second-quarter sales of $1.62 billion.
The company's advertising revenue was $1.6 billion, representing 88 percent of total revenue, the company reported, and a 61 percent increase from the same quarter last year.
The company posted profits, meanwhile, of $333 million, at $0.13 per share, compared to a net loss of $157 million for the second quarter of 2012, at $0.08 a share.
Excluding share-based compensation expenses and related payroll tax expenses and adjustments, the company reported earnings per share of $0.19, topping analyst estimates of $0.14.
Mobile advertising revenue, which Facebook faces mounting pressure to grow as more users migrate away from the desktop, constituted 41 percent 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 percent in 2012's third quarter, to 23 percent in the fourth quarter, and finally to 30 percent 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 percent from the year-ago period.
On mobile, monthly active users were 819 million, representing a 51 percent increase.
The company said in January that building new mobile products would be a focus for the year.
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