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Facebook Reports Second Quarter 2013 Results

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Facebook reported financial results for the second quarter, which ended June 30, 2013. Revenues for the second quarter of 2013 totaled $1.81 billion, an increase of 53%, compared with $1.18 billion in the second quarter of 2012. Revenues from advertising was $1.60 billion, representing 88% of total revenue and a 61% increase from the same quarter last year.

Mark Zuckerberg (Founder and CEO, Facebook): We’ve made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile. 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.

Second Quarter 2013 Financial Highlights

Mobile advertising revenue represented approximately 41% of advertising revenue for the second quarter of 2013. Payments and other fees revenue was $214 million for the second quarter of 2013, an increase of 11% from the same quarter last year.

Costs and expenses for the second quarter of 2013 were $1.25 billion, a decrease of 35% from the second quarter of 2012, as costs in the second quarter of 2012 were materially impacted by the share-based compensation expense resulting from the company’s IPO.

For the second quarter of 2013,  income from operations was $562 million, compared to a loss from operations of $743 million in the second quarter of 2012.

Operating margin was 31% for the second quarter of 2013, compared to negative 63% in the second quarter of 2012.

Income tax expense for the second quarter of 2013 was $212 million, representing a 39% effective tax rate.

For the second quarter of 2013,  net income was $333 million, compared to a net loss of $157 million for the second quarter of 2012. Diluted EPS was 13 cents in the second quarter of 2013, compared to a loss per share of 8 cents in the second quarter of 2012.

Capital expenditures for the second quarter of 2013 were $268 million, a 35% decrease from the second quarter of 2012.

Cash and marketable securities were $10.3 billion at the end of the second quarter of 2013.

Second Quarter 2013 Operational Highlights
•Daily active users (DAUs) were 699 million on average for June 2013, an increase of 27% year-over-year.
•Monthly active users (MAUs) were 1.15 billion as of June 30, 2013, an increase of 21% year-over-year.
•Mobile MAUs were 819 million as of June 30, 2013, an increase of 51% year-over-year. Mobile DAUs were 469 million on average for June 2013.

[Image courtesy: Facebook]

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