Facebook revenue grows +60%, more than doubling its net income in Q2 earnings report
When you are the CEO of a company enjoying exploding growth in revenue and profits you can afford to engage in a little bit of understatement.
“We had a good second quarter,” said Mark Zuckerberg, Facebook’s founder and CEO. “Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world.”
The social network record $2.91 billion in revenue in Q2 of 2014, up over 60 percent from the $1.813 billion it recorded in the same time period last year. For the first six months of 2014, revenue is up over 65 percent to $5.4 billion.
Facebook is also operating at an incredible 48 percent margin in Q2 and says it averaged 829 million users in June.
Not surprisingly, it also managed to grow its cash reserves, so look for Facebook to continue to be the target of acquisition speculation as it seeks to add more products and services.