Facebook (FB) Q3 Earnings Buy Zuckerberg Time to Dial in Mobile
Tweet
Share
E-mail
Get Alerts FB Hot Sheet
Join SI Premium – FREE
Shares of Facebook (Nasdaq: FB) popped in after-hours trading following the release of the company's third quarter financial results. Investors were very focused on revenue growth, and Facebook delivered on expectations with revenue coming in at $1.26 billion, slightly above the $1.23 billion expected by analyst, and 32 percent higher compared to 2011. At 12 cents, quarterly EPS topped estimates by a penny.
Facebook also report September traffic results, which showed monthly active users climbed to 1.01 billion, and daily active users of 584 million on average in September. This was an increase of 26 percent and 28 percent, respectively. September Mobile monthly active users were 604 million in September, climbing 61 percent year-over year.
"As proud as I am that a billion people use Facebook each month, I'm also really happy that over 600 million people now share and connect on Facebook every month using mobile devices," said Mark Zuckerberg, Facebook founder and CEO. "People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company."
While this quarter's earnings report may come as a relief to investors, it is clear Facebook and Zuckerberg still have a lot of work to do, especially with effort to monetize mobile users. For now Wall Street appears to be giving Facebook the benefit of the doubt, which will may translate into more time for Zuckerberg and company, but it doesn't mean Facebook is completely out of the woods.
Shares of Facebook last traded at $21.34, up 9.44 percent.
Facebook also report September traffic results, which showed monthly active users climbed to 1.01 billion, and daily active users of 584 million on average in September. This was an increase of 26 percent and 28 percent, respectively. September Mobile monthly active users were 604 million in September, climbing 61 percent year-over year.
"As proud as I am that a billion people use Facebook each month, I'm also really happy that over 600 million people now share and connect on Facebook every month using mobile devices," said Mark Zuckerberg, Facebook founder and CEO. "People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company."
While this quarter's earnings report may come as a relief to investors, it is clear Facebook and Zuckerberg still have a lot of work to do, especially with effort to monetize mobile users. For now Wall Street appears to be giving Facebook the benefit of the doubt, which will may translate into more time for Zuckerberg and company, but it doesn't mean Facebook is completely out of the woods.
Shares of Facebook last traded at $21.34, up 9.44 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Grainger (GWW) Tops Q1 EPS by 2c, provides guidance
- United Bankshares (UBSI) Misses Q1 EPS by 1c
- Deutsche Bank (DB) Tops Q1 EPS by 1c
Create E-mail Alert Related Categories
Earnings, Hot EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
