July 24, 2014
Second Quarter Numbers Show $2.9 Billion Revenue
Mark Zuckerberg delivered what may be one of the understatements of the year Wednesday.
In a press release, the Facebook founder and chief executive officer seemed nonchalant in his summary of the financial results for the year’s second quarter.
“We had a good second quarter,” said Zuckerberg. “Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world.”
That “good” quarter resulted in Facebook pulling in $2.9 billion in revenue. Analysts, Time reported, had set expectations at $2.8 billion. Profit wise, Facebook generated $791 million.
Advertising revenue accounted for $2.68 billion, nearly a 70 percent jump from the same quarter last year. Interestingly, mobile advertising revenue represented roughly 62 percent of the second quarter’s advertising revenue that, in itself, is a 41 percent jump from the advertising revenue in 2013’s second quarter.
Pundits questioned whether the numbers could be impacted in the coming year after the recent news Facebook, through a social experiment, manipulated users’ news feeds to gauge their reaction and related actions.
It’s too early to know, but Wednesday’s release certainly proved Facebook remains one of the most popular social networks on the globe with 829 million daily average users in June. That’s nearly 20 percent more than the same time last year.
Like mobile advertising, Facebook’s mobile users also increased 39 percent over last year. That means, on average in June, there were 654 million mobile users each day.
W. Brice McVicar is a staff writer for SiteProNews.