After paying a record fine and agreeing to adjust the management structure over privacy breaches – and facing a DoJ probe – Facebook shares soared intraday ahead of tonight’s earnings, and prices soared even higher after hours as the company showed better than expected revenues and Daily Active Users.
Key highlights include (via Bloomberg):
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Daily active users (DAUs) – DAUs were 1.59 billion on average for June 2019, an increase of 8% year-over-year.
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Monthly active users (MAUs) – MAUs were 2.41 billion as of June 30, 2019, an increase of 8% year-over-year.
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Mobile advertising revenue – Mobile advertising revenue represented approximately 94% of advertising revenue for the second quarter of 2019, up from approximately 91% of advertising revenue in the second quarter of 2018.
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Capital expenditures – Capital expenditures, including principal payments on finance leases, were $3.78 billion for the second quarter of 2019.
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Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $48.60 billion at the end of the second quarter of 2019.
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Headcount – Headcount was 39,651 as of June 30, 2019, an increase of 31% year-over-year.
Finally, as we noted yesterday, Facebook acknowledges that the FTC has opened an anti-trust investigation into the company.
But that doesn’t seem to have spooked investors as they buy the stock up to a record high
via ZeroHedge News https://ift.tt/2Y0uWqN Tyler Durden