Facebook, Inc. (NASDAQ: FB) released its most recent quarterly results after the closing bell on Thursday. The social media giant said that it had $1.80 in earnings per share (EPS) on $18.69 billion in revenue. Analysts were calling for $1.39 in EPS and $17.4 billion in revenue. The second quarter from last year had $0.91 in EPS and $16.89 billion in revenue.
During the quarter, daily active users totaled 1.79 billion on average for June 2020, an increase of 12% year over year. At the same time, monthly active users increased by 12% to 2.70 billion.
Family daily active people (DAP) increased 15% year over year to 2.47 billion, while family monthly active people (MAP) increased 14% to 3.14 billion. Note that these “Family” metrics represent estimates of the underlying number of unique people using one or more of Facebook, Instagram, Messenger, and/or WhatsApp.
In terms of engagement, Facebook said that DAUs and MAUs reflect increased engagement as people around the world sheltered in place and used its products to connect with the people and organizations. More recently, management noted that it is seeing signs of normalization in user growth and engagement as shelter-in-place measures have eased around the world, particularly in developed markets where Facebook’s penetration is higher.
Mobile advertising revenue represented roughly 98% of advertising revenue for the second quarter of 2020, relatively the same level from the second quarter last year.
Facebook did not issue guidance for the third quarter. However, analysts are calling for $1.71 in EPS and $19.05 billion in revenue for the coming quarter.
On the books, cash, cash equivalents, and marketable securities totaled $58.24 billion at the end of the quarter, versus $54.86 billion at the end of the previous fiscal year.
Facebook stock closed Thursday at $234.50, with a 52-week range of $137.10 to $250.15. Analysts have a consensus price target of $257.35. Following the announcement, the stock was up over 5% at $247.00 in the after-hours session.
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