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Facebook exceeds estimates, posts $333 million profit

updated 04:58 pm EDT, Wed July 24, 2013

Profit increase accompanied with similar increase in active monthly users

Social network Facebook today reported financial results for the second quarter, which ended June 30. Revenue for the second quarter of 2013 totaled $1.81 billion, beating Wall Street estimates. The result was an increase of 53 percent, compared with $1.18 billion in the year-ago quarter of 2012. Net income was $333 million, compared to a net loss of $157 million for the second quarter of 2012.

The company notes operating margin of 31 percent for the second quarter of 2013, compared to negative 63 percent in the second quarter of 2012. Capital expenditures for the second quarter of 2013 were $268 million, a 35 percent decrease from the second quarter of 2012.

Revenue from advertising was $1.60 billion, representing 88 percent of total revenue and a 61 percent increase from the same quarter last year. Mobile advertising revenue represented approximately 41 percent of Facebook's advertising revenue in the last quarter.

Highlights of the quarter include one million active Facebook advertisers, driven by growth in local business advertising. Video for Instagram was deployed, with five million videos uploaded in 24 hours. Facebook for Every Phone has passed 100 million monthly active users. Daily active users increased 27 percent in a year to 699 million on average, with 1.15 billion active monthly active users in the same timeframe.

"We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," said Mark Zuckerberg, Facebook founder and CEO. "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."

by MacNN Staff



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