Facebook Q2 Net Income Tops $2 Billion, Up 186%, Revenue To $6.4 Billion
July 27, 2016 at 2:30 PM (PT)
MARK ZUCKERBERG's FACEBOOK is the gift that keeps on giving, with results soaring past WALL STREET expectations, sending stock shares up 8% to a new all-time high in after-hours trading today.
The Internet giant earned a Q2 net income of more than $2 billion, up a whopping 186% over a comparable period in 2015. Total revenue amounted to $6.4 billion, a gain of 59%, with advertising accounting for $6.2 billion of that, a jump of 63% from last year's figure of $3.8 billion. Mobile advertising represented 84% of that revenue, up from 76% in Q2 last year.
"Our community and business had another good quarter," understated ZUCKERBERG. "We're particular pleased with our progress in video as we move towards a world where video is at the heart of all our services."
Other notable accomplishments:
* Daily active users numbered 1.13 billion for JUNE, an increase of 17% year over year. Mobile users were 1.03 billion, an increase of 22%.
* Monthly active users were 1.71 billion as of JUNE 30th, an increase of 15% year-over-year.