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May 2, 2013 12:07 am GMT
Facebook has just posted its earnings for the quarter that ended March 31, 2013. Facebook hit $1.46B in revenue up 38% from Q1 2012, beating the street. However, earnings per shared missed estimates, staying flat at $0.12. While revenue only grew slightly, the amount of its 1.11 billion monthly users that returned daily, 665 million, was slightly better than last quarter. For more details on user growth, read our post by Drew Olanoff. Facebook also noted in an SEC filing issued today that Chief Accounting Officer David Spillane is leaving the company. Spillane had been the company’s revenue controller since 2008, overseeing growth and IPO. He is getting replaced by Jas Athwal effective May 10. Initial reactions from the stock market were mildly positive, with the Facebook’s share price increasing slightly in after-hours trading just after the earnings were released, though the price had fallen 1.22% and closed at $27.43. The percentage of Facebook’s total ad revenue that came from mobile surged to 30%, up from 23% last quarter. Read more on Facebook’s mobile progress from expert Kim-Mai Cutler. Analysts were expecting earnings per share of $0.13, on sales of $1.44 billion. Facebook reported earnings of $1.06 billion for the same quarter a year ago. Last quarter, Facebook posted earnings of $1.59 billion, a rise of 40% year-over-year. Last quarter the company had 1.1 billion monthly users, 618 million daily users, and 680 mobile monthly million, up 57 percent year-over-year. The fact that Facebook saw a higher DAU/MAU ratio means that Facebook was more engaging this quarter than last, a strong sign rebuking critics who claim people are using the site less. However, Facebook’s user growth is currently coming predominantly from developing markets that don’t earn it nearly as much money as users in first-world markets like the United States. In the lead-up to today’s earnings, there were a lot of expectations about how Facebook would perform performing around some key metrics. User numbers. As noted in the WSJ, one area where Facebook will be scrutinized will be in its proportion of daily to monthly active users. In Q4 the figure was 58.5% globally. Mark Mahaney of RBC Capital Markets told the newspaper that he expects that to go up to 59% but “anything less than 58% would be a negative for Facebook.” Elsewhere, there have been some reports of user attrition. However, Facebook hit a 60% daily to monthly
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ygmHnEAIkFM/
Facebook Q1 Earnings Beats With $1.46B In Revenue, Up 38%, But Misses With Flat EPS Of $0.12 Non-GAAP
Facebook has just posted its earnings for the quarter that ended March 31, 2013. Facebook hit $1.46B in revenue up 38% from Q1 2012, beating the street. However, earnings per shared missed estimates, staying flat at $0.12. While revenue only grew slightly, the amount of its 1.11 billion monthly users that returned daily, 665 million, was slightly better than last quarter. For more details on user growth, read our post by Drew Olanoff. Facebook also noted in an SEC filing issued today that Chief Accounting Officer David Spillane is leaving the company. Spillane had been the company’s revenue controller since 2008, overseeing growth and IPO. He is getting replaced by Jas Athwal effective May 10. Initial reactions from the stock market were mildly positive, with the Facebook’s share price increasing slightly in after-hours trading just after the earnings were released, though the price had fallen 1.22% and closed at $27.43. The percentage of Facebook’s total ad revenue that came from mobile surged to 30%, up from 23% last quarter. Read more on Facebook’s mobile progress from expert Kim-Mai Cutler. Analysts were expecting earnings per share of $0.13, on sales of $1.44 billion. Facebook reported earnings of $1.06 billion for the same quarter a year ago. Last quarter, Facebook posted earnings of $1.59 billion, a rise of 40% year-over-year. Last quarter the company had 1.1 billion monthly users, 618 million daily users, and 680 mobile monthly million, up 57 percent year-over-year. The fact that Facebook saw a higher DAU/MAU ratio means that Facebook was more engaging this quarter than last, a strong sign rebuking critics who claim people are using the site less. However, Facebook’s user growth is currently coming predominantly from developing markets that don’t earn it nearly as much money as users in first-world markets like the United States. In the lead-up to today’s earnings, there were a lot of expectations about how Facebook would perform performing around some key metrics. User numbers. As noted in the WSJ, one area where Facebook will be scrutinized will be in its proportion of daily to monthly active users. In Q4 the figure was 58.5% globally. Mark Mahaney of RBC Capital Markets told the newspaper that he expects that to go up to 59% but “anything less than 58% would be a negative for Facebook.” Elsewhere, there have been some reports of user attrition. However, Facebook hit a 60% daily to monthlyOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/ygmHnEAIkFM/
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