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Facebook Beat Expectations, Reports 53% Revenue Increase

Jul. 25, 2013 8:52 AM ETMETA
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Originally published at www.seclive.com

Facebook (FB) announced second quarter results that exceeded analyst expectations, reporting a 53% revenue increase from $1.18B last year to $1.81B this year, with mobile advertising accounting for 41% of the company's total $1.60B advertising revenue this quarter. In first quarter this year, Facebook mobile revenue comprised only 30% of ad revenue. Analysts are pleased with Facebook's correction of the mobile advertising issue and believe this is the company's strongest quarter, with improvements in its operating margin leading to an increase in earnings per share. Facebook earnings per share were $0.12 a year ago and analysts were only expecting $0.14 earnings per share this quarter while the company reported $0.19 earnings per share. Facebook stock was trading above $30.00 in after-hours trading, the highest the stock has closed since January.

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