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Facebook Shares Surge after Q2 Results (FB)

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Shares of social networking giant Facebook Inc. (NASDAQ: FB) have skyrocketed in trading today after the company reported strong second-quarter financial results.

For the quarter ended June 30, 2013, the company reported revenue of $1.81 billion, up 53% over the same period in the previous year. The company’s revenue from advertising stood at $1.60 billion, up 61% over the second quarter of 2012. Mobile advertising revenue accounted for 41% of advertising revenue for the second quarter of 2013.

Mark Zuckerberg, founder and CEO of Facebook, said that the company has made a good progress growing its community, deepening engagement and delivering strong financial results, especially on mobile. Zuckerberg further said that the work done to make mobile the best Facebook experience is showing good results and provides the company with a solid foundation for the future.

Facebook’s income from operations for the quarter came in at $562 million, compared to a loss from operations of $743 million reported for the same period in the previous year. On a non-GAAP basis, income from operations came in at $794 million, compared to $515 million reported for the same period in the previous year.

Net income for the quarter stood at $333 million, or $0.13 per share, compared to a net loss of $157 million, or $0.08 per share reported for the same period in the previous year. Non-GAAP net income for the quarter was $488 million, or $0.19 per share, compared to $295 million, or $0.12 per share reported in the second quarter of 2012. Non-GAAP net income for the quarter also beat consensus forecast.

FB shares were last trading at $32.92, up 24.18%. The stock hit a 52-week high of $34 earlier today.

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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