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Facebook Reports Third Quarter 2014 Results

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Facebook reported financial results for the quarter ended September 30, 2014 on Tuesday. Revenue for the third quarter of 2014 totaled $3.20 billion, an increase of 59%, compared with $2.02 billion in the third quarter of 2013.

Mark Zuckerberg (Founder and CEO, Facebook): This has been a good quarter with strong results. We continue to focus on serving our community well and continue to invest in connecting the world over the next decade.

Revenue from advertising was $2.96 billion, a 64% increase from the same quarter last year. Mobile advertising revenue represented approximately 66% of advertising revenue for the third quarter of 2014, up from approximately 49% of advertising revenue in the third quarter of 2013.

Costs and expenses for the third quarter of 2014 were $1.81 billion, an increase of 41% from the third quarter of 2013. Income from operations for the third quarter of 2014 was $1.40 billion, up 90% compared to $736 million in the third quarter of 2013. Operating margin was 44% for the third quarter of 2014, compared to 37% in the third quarter of 2013. Income tax expense for the third quarter of 2014 was $530 million, representing a 40% effective tax rate.

Net income for the third quarter of 2014 was $806 million, up 90% compared to $425 million for the third quarter of 2013. Diluted EPS was 30 cents in the third quarter of 2014, up 76% compared to 17 cents in the third quarter of 2013. 

Capital expenditures for the third quarter of 2014 were $482 million. Cash and cash equivalents and marketable securities were $14.25 billion at the end of the third quarter of 2014. Free cash flow for the third quarter of 2014 was $766 million.

[Image courtesy: Facebook]

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