Earnings per share estimates of 82 cents were handedly beat by Facebook (NASDAQ:FB), which reported 97 cents per share in earnings for the second quarter. Revenue of $6.44 billion beat estimates by $420 million and soared almost 60% year-over-year. Monthly active users of 1.71 billion were up from 1.65 billion last quarter and up 15% YOY. Daily users now stand at a whopping 1.13 billion.
Although the company sported a pre-earnings market cap of almost $350 billion and a PE ratio of 75, watching it churn out sales growth of that magnitude is simply quite impressive.
As of this writing, shares are up almost 7%, but that could change – for better or for worse – following the conference call.
Advertising revenues, 84% of which were from mobile, climbed 63% on the year while net income soared 186% YOY to $2.055 billion. Although Facebook had made new 52-week highs in Wednesday’s session, showing investor confidence was strong, these results were likely more than many had expected.
