Facebook Reports Second Quarter 2013 Results - Facebook

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Facebook Reports Second Quarter 2013 Results - Facebook

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• Publié par: Fil_Economie
• Publié le: 25 juillet 2013
• Nombre de lectures: 327
• Langue: English

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Investor Relations
Facebook Reports Second Quarter 2013 Results
July 24, 2013
MENLO PARK, Calif., July 24, 2013 /PRNewswire/ -- Facebook, Inc. (NASDAQ: FB) today reported financial results for
the second quarter, which ended June 30, 2013.
"We've made good progress growing our community, deepening engagement and delivering strong financial results,
especially on mobile," said Mark Zuckerberg, Facebook founder and CEO. "The work we've done to make mobile the
best Facebook experience is showing good results and provides us with a solid foundation for the future."
Second Quarter 2013 Financial Summary
In millions, except percentages and per share amounts Q2'12 Q2'13 YTD'12 YTD'13
Revenue $ 1,184 $ 1,813 $ 2,242 $ 3,271
Income (Loss) from Operations
GAAP $ (743) $ 562 $ (362) $ 935
Non-GAAP $ 515 $ 794 $ 1,000 $ 1,357
Operating Margin
GAAP (63%) 31% (16%) 29%
Non-GAAP 43% 44% 45% 41%
Net Income (Loss)
GAAP $ (157) $ 333 $ 48 $ 552
Non-GAAP $ 295 $ 488 $ 582 $ 800
Diluted Earnings (Loss) per Share (EPS)
GAAP $ (0.08) $ 0.13 $ 0.02 $ 0.22
Non-GAAP $ 0.12 $ 0.19 $ 0.24 $ 0.32
Second Quarter 2013 Operational Highlights
Daily active users (DAUs) were 699 million on average for June 2013, an increase of 27% year-over-year.
Monthly active users (MAUs) were 1.15 billion as of June 30, 2013, an increase of 21% year-over-year.
Mobile MAUs were 819 million as of June 30, 2013, an increase of 51% year-over-year. Mobile DAUs were
469 million on average for June 2013.
Recent Business Highlights
Surpassed 1 million active advertisers on Facebook, driven by significant growth in local businesses.
Introduced video for Instagram and saw 5 million videos uploaded in the first 24 hours.
Facebook for Every Phone has now passed 100 million monthly active users. In just two years, Facebook for
Every Phone has successfully put Facebook into the hands of millions of people around the world with limited
access to the Internet, giving them the power to connect and share.
Launched products including Verified Pages, hashtags and embedded posts to help people on Facebookconnect with their friends about what's taking place all over the world.
Announced that there have now been over 100,000 apps built on Parse, a cloud-based platform that provides
scalable cross-platform services and tools for developers to enable them to build apps that span mobile
platforms and devices.
Facebook's data center in Lulea, Sweden, began serving live user traffic around the world using Facebook's
Open Compute Project designs and renewable energy.
Second Quarter 2013 Financial Highlights
Revenue — Revenue for the second quarter of 2013 totaled $1.81 billion, an increase of 53%, compared with $1.18
billion in the second quarter of 2012.
Revenue from advertising was $1.60 billion, representing 88% of total revenue and a 61% increase from the
same quarter last year.
Mobile advertising revenue represented approximately 41% of advertising revenue for the second quarter of
2013.
Payments and other fees revenue was $214 million for the second quarter of 2013, an increase of 11% from
the same quarter last year.
Costs and expenses — GAAP costs and expenses for the second quarter of 2013 were $1.25 billion, a decrease of
35% from the second quarter of 2012, as costs in the second quarter of 2012 were materially impacted by the share-
based compensation expense resulting from our IPO. Excluding share-based compensation and related payroll tax
expenses, non-GAAP costs and expenses were $1.02 billion in the second quarter, up 52% compared to $669 million
for the second quarter of 2012.
Income (loss) from operations — For the second quarter of 2013, GAAP income from operations was $562
million, compared to a GAAP loss from operations of $743 million in the second quarter of 2012. Excluding share-
based compensation and related payroll tax expenses, non-GAAP income from operations for the second quarter was
$794 million, up 54% compared to $515 million for the second quarter of 2012.
Operating margin — GAAP operating margin was 31% for the second quarter of 2013, compared to negative 63%
in the second quarter of 2012. Excluding share-based compensation and related payroll tax expenses, non-GAAP
operating margin was 44% for the second quarter of 2013, compared to 43% for the second quarter of 2012.
Provision for income taxes — GAAP income tax expense for the second quarter of 2013 was $212 million,
representing a 39% effective tax rate. Excluding share-based compensation and related payroll tax expenses, the
non-GAAP effective tax rate would have been approximately 37%.
Net income (loss) and EPS — For the second quarter of 2013, GAAP net income was $333 million, compared to a
net loss of $157 million for the second quarter of 2012. Excluding share-based compensation and related payroll tax
expenses and income tax adjustments, non-GAAP net income for the second quarter of 2013 was $488 million, up
65% compared to $295 million for the second quarter of 2012. GAAP diluted EPS was $0.13 in the second quarter of
2013, compared to a loss per share of $0.08 in the second quarter of 2012. Excluding share-based compensation
and related payroll tax expenses and income tax adjustments, non-GAAP diluted EPS for the second quarter of 2013
was $0.19, up 58% compared to $0.12 in the second quarter of 2012.
Capital expenditures — Capital expenditures for the second quarter of 2013 were $268 million, a 35% decrease
from the second quarter of 2012.
Cash and marketable securities — Cash and marketable securities were $10.3 billion at the end of the second
quarter of 2013.
Webcast and Conference Call Information
Facebook will host a conference call to discuss the results at 2 p.m. PT / 5 p.m. ET today. The live webcast can be
accessed at the Facebook Investor Relations website at investor.fb.com, along with the company's earnings press
release, financial tables and slide presentation. Facebook uses the investor.fb.com website as a means of disclosing
material non-public information and for complying with its disclosure obligations under Regulation FD.
Following the call, a replay will be available at the same website. A telephonic replay will be available for one week
following the conference call at + 1 [phone] or + 1 [phone], conference ID 99420501.
About Facebook
Founded in 2004, Facebook's mission is to give people the power to share and make the world more open and
connected. People use Facebook to stay connected with friends and family, to discover what's going on in the world,
and to share and express what matters to them.
Contacts
Investors: Deborah Crawford
[e-mail] / investor.fb.com
Press:
Ashley Zandy
[e-mail] / newsroom.fb.com
Forward Looking Statements
This press release contains forward-looking statements regarding our future business expectations, which are subject
to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are only predictions and may differ materially from actual results due to a variety of factors including:
our ability to retain or increase users and engagement levels, particularly mobile engagement; our ability to
monetize our mobile products; risks associated with new product development and introduction; our ability to expand
the Facebook Platform; competition; privacy concerns; security breaches; and our ability to manage growth and
geographically-dispersed operations. These and other potential risks and uncertainties that could cause actual results
to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Quarterly Report on
Form 10-Q filed with the SEC on May 2, 2013, which is available on our Investor Relations website at investor.fb.com
and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form
10-Q for the quarter ended June 30, 2013. In addition, please note that the date of this press release is July 24,
2013, and any forward-looking statements contained herein are based on assumptions that we believe to be
reasonable as of this date. We undertake no obligation to update these statements as a result of new information or
future events.
Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP,
we use the following non-GAAP financial measures: total revenue and advertising revenue excluding foreign
exchange effect, non-GAAP costs and expenses, non-GAAP income from operations; non-GAAP net income; non-
GAAP diluted shares; non-GAAP diluted earnings per share; non-GAAP operating margin; non-GAAP effective tax
rate; and free cash flow. The presentation of these financial measures is not intended to be considered in isolation or
as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors
are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an
analytical tool. In particular, many of the adjustments to our GAAP financial measures reflect the exclusion of items,
specifically share-based compensation expense and payroll tax related to share-based compensation expense and
the related income tax effects, that are recurring and will