So much for any worries about FANGs rolling over. After yesterday's modest AAPL beat which nonetheless resulted in one of the biggest intraday jumps in its stock in history, moments ago Facebook reported results which simply crushed expectations. The street was expecting $6.01 billion in revenue and EPS of $0.82. Instead it got revenue of $6.44 billion, a 59% increase from 2015 - 84% of which came from mobile - and EPS of $0.97 cents, a 94% increase.
As the following table of historical Facebook Q2 earnings shows, the only way remains up for the company which continues to gobble up virtually the entire mobile advertising market.
- 2016 $6.4 Billion
- 2015 $4.0 Billion
- 2014 $2.9 Billion
- 2013 $1.8 Billion
- 2012 $1.2 Billion
- 2011 $895 Million
Granted, while the data came before the Pokemon Go juggernaut appeared, it was still unprecedented. Here are the details reported by Facebook.
- Daily active users (DAUs) rose to 1.13 billion on average for June 2016, an increase of 17% year-over-year, and above the 1.12 billion expected
- Mobile DAUs were 1.03 billion on average for June 2016, an increase of 22% year-over-year, and also beating estimates.
- Monthly active users (MAUs) were 1.71 billion as of June 30, 2016, an increase of 15% year-over-year.
Finally, the biggest factor was Mobile MAUs which soared to 1.57 billion as of June 30, 2016, an increase of 20% year-over-year.
Also, if there was any concern about ad revenue slowing down, that too can be ignored for now: Mobile advertising revenue represented approximately 84% of advertising revenue for the second quarter of 2016, up from approximately 76% of advertising revenue in the second quarter of 2015.
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All the record breaking detail in charts:
Revenue by geography
EPS: GAAP and non-GAAP
Income statement reconciliation:
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The stock, predictably, is soaring into new all time high territory, up almost 7% in the after hours session, to new records.