Facebook announced its second quarter 2014 earnings on Wednesday after the bell. The company reported an earnings per share of 42 cents on revenue of $2.91 billion, crushing Wall Street expectations of 32 cents EPS on $2.81 billion in revenue. Looks like any doubters in the social network can rest their fears for now.
Here are the highlights Facebook published for the quarter:
- Daily active users (DAUs) were 829 million on average for June 2014, an increase of 19% year-over-year.
- Mobile DAUs were 654 million on average for June 2014, an increase of 39% year-over-year.
- Monthly active users (MAUs) were 1.32 billion as of June 30, 2014, an increase of 14% year-over-year.
- Mobile MAUs were 1.07 billion as of June 30, 2014, an increase of 31% year-over-year.
Facebook's revenue was up 61 percent from the same quarter last year, largely due to advertising revenue, which jumped 67 percent from the same quarter last year. Also — one of the major areas investors were first concerned with is now a major revenue generator for Facebook: mobile ads. In fact, 62 percent of all of Facebook's total ad revenue comes from mobile ads, up from 41 percent a year ago.
"We had a good second quarter," Facebook CEO Mark Zuckerberg said. No kidding, huh? Shares of Facebook are up about 3 percent on the news.