Friday, July 27, 2012


Facebook allayed some of the fears about its business on Thursday by beating Wall Street’s estimates for its fiscal second quarter revenues and earnings.

Facebook posted revenues of $1.18 billion and non-GAAP earnings per share of $0.12. Analysts polled by Thomson Reuters predict Facebook to report non-GAAP earnings $0.12 per share on revenues of $1.1 billion, which will be up about 5% from last quarter‘s $1.058 billion.

Advertising makes up the bulk of that; last quarter $872 million came from ads. Analysts were expected ad revenues of $921 million. Facebook beat that with $992 million in ad revenues.

The company also announced 552 million daily active users as of June 30, a 32% jump over the year-ago period. Monthly active users were 955 million, which was up 29%. The company also claims 543 million monthly active users on mobile, a 67% jump.

Facebook’s shares were down 8.5% before the market closed, to $26.84. In after-hours, the stock was down another 5% to less than $26.