Facebook Tops Q2 Estimates

Facebook Inc FB reported better-than-expected results for its second quarter on Wednesday. The Menlo Park, California-based company reported quarterly net income of $719 million, or $0.25 per share, versus $791 million, or $0.30 per share, in the year-earlier quarter. Excluding certain expenses, the company's earnings came in at $0.50 per share. Its revenue climbed to $4.04 billion from $2.91 billion. However, analysts were expecting earnings of $0.47 per share on revenue of $3.99 billion. The average estimate among 448 Estimize users was for earnings of $0.49 per share and revenue of $4.03 billion. Its expenses climbed 82 percent in the quarter. Monthly active users climbed 13 percent year-over-year to 1.49 billion as of June 30, 2015, while Mobile MAUs rose 23 percent to 1.31 billion as of June 30, 2015. Daily active users climbed 17 percent year-over-year to 968 million on average for June 2015, while Mobile DAUs rose 29 percent to 844 million on average for June 2015. Mobile advertising revenue represented around 76 percent of advertising revenue for the latest quarter, versus around 62 percent of advertising revenue in the year-ago quarter. Capital expenditures were $549 million for the second quarter. At the end of the second quarter, the company had $14.13 billion in cash and cash equivalents and marketable securities. "This was another strong quarter for our community," said Mark Zuckerberg, Facebook founder and CEO. "Engagement across our family of apps keeps growing, and we remain focused on improving the quality of our services." Facebook shares fell 2.63 percent to $94.44 in the after-hours trading session.