Facebook Posts Monstrous Third-Quarter Growth; Shares Soar
Oct 30th 2013 5:03PM
Updated Oct 30th 2013 5:04PM
Facebook reported better-than-expected third-quarter results after the market closed today. On average, the consensus analyst estimate was for EPS and revenue of $0.19 and $1.91 billion, respectively. Facebook crushed estimates, reporting non-GAAP EPS of $0.25 and revenue of $2.02 billion. GAAP EPS came in at $0.17.
If there was any question about whether Facebook would be able to sustain the monstrous growth it reported last quarter, the social network has certainly eased concerns. Top- and bottom-line year-over-year growth accelerated from the second quarter. Revenue was up 60% from the year-ago quarter (compared with 53% year-over-year growth in Q2), and non-GAAP EPS was up a whopping 108% (compared with 58% year-over-year growth in Q2).
Advertising, which accounted for 89% of Facebook's total revenue, was the big driver in Facebook's solid results, up 66% from the year-ago quarter. Mobile advertising revenue continued to grow, accounting for 49% of Facebook's total revenue, up from 41% in Q2.
Facebook posted meaningful growth in active users, too. Daily active users reached 728 million, up from 699 million last quarter. Monthly active users hit 1,189 million, up from last quarter's 1,155 million.
Shares are up about 10% in after-market trading hours.
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The article Facebook Posts Monstrous Third-Quarter Growth; Shares Soar originally appeared on Fool.com.Fool contributor Daniel Sparks has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.