"Our goal is to help every person stay connected and every product they use be a great social experience," said Mark Zuckerberg, Facebook founder and CEO.?"That's why we're so focused on investing in our priorities of mobile, platform and social ads to help people have these experiences with their friends."
Here were the key highlights from the press release:
User Growth Highlights
- Monthly active users (MAUs) were 955 million as of June 30, 2012, an increase of 29% year-over-year.
- Daily active users (DAUs) were 552 million on average for June 2012, an increase of 32% year-over-year.
- Mobile MAUs were 543 million as of June 30, 2012, an increase of 67% year-over-year.
Product Highlights
- Facebook launched several new mobile products, including:
- a new Facebook Camera app for iPhone,
- an improved version of the mobile messenger app for both iOS and Android, and
- several updates to the Facebook Android app.
- Launched global App Center where users can discover relevant apps for mobile and web.
- Apple announced plans for a deep Facebook integration throughout the next version of Apple's iOS and OSX.
Corporate Highlights
- Announced proposed acquisition of Instagram, a popular photo-sharing app.
- Entered into a definitive agreement with Yahoo! to settle all pending patent claims between the companies and deepen the companies' current business partnership.
- Began serving users from our new data center in Forest City, N.C.
- Announced that Sheryl Sandberg, chief operating officer at Facebook, joined the company's board of directors.?
Revenue ? Revenue for the second quarter totaled $1.18 billion, an increase of 32%, compared with $895 million in the second quarter of 2011.
- Revenue from advertising was $992 million, representing 84% of total revenue and a 28% increase from the same quarter last year.
- Payments and other fees revenue for the second quarter was $192 million.
Bottomline:
Facebook reported a solid quarter. Wall Street had sky high expectations, and even though Facebook delivered on most user metrics, the traders were not pleased. Facebook stock dropped to its lowest level since IPO. This could present an attractive buying opportunity.
According to this article, "The company didn't blow the doors off of earnings, but it didn't miss Wall Street estimates."
Facebook proved that it can do good business, grow the user base, make profits and find new ways to monetize. It is a real company. What's not to like? With over 1 billion users worldwide (soon), Facebook revenue and profits can only go up from here! Add to that China entry (hopefully this year). Many other businesses would love to be in their shoes.
Also check out:
Ogoing Small Business Social Network! It's like "Facebook for Small Business"? Go here to learn more
Source: http://creativityandinnovation.blogspot.com/2012/07/facebook-grows.html
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