Facebook reports revenue up 58.9 percent in Q3, net income nearly doubled
But WhatsApp acquisition numbers make Facebook look like suckers
The social networking company Facebook today reported earnings for its third quarter and they were impressive (even if investors decide to take the stock down in after hours trading).
Revenue grew 58.9 percent in Q3 to $3.203 billion from just over $2 billion in the same quarter a year ago. Net income also grew to $806 million (GAAP), up from $425 million a year ago.
“This has been a good quarter with strong results,” Mark Zuckerberg, Facebook CEO said in the obligatory earnings statement quote. “We continue to focus on serving our community well and continue to invest in connecting the world over the next decade.”
The Third Quarter 2014 Operational Highlights:
- Daily active users (DAUs) were 864 million on average for September 2014, an increase of 19% year-over-year.
- Mobile DAUs were 703 million on average for September 2014, an increase of 39% year-over-year.
- Monthly active users (MAUs) were 1.35 billion as of September 30, 2014, an increase of 14% year-over-year.
- Mobile MAUs were 1.12 billion as of September 30, 2014, an increase of 29% year-over-year.
Facebook also revealed some numbers from its WhatsApp acquisition, and those make the company look pretty silly. The messaging app company was acquired for quite a chunk of change, but brought in only $10.2 million in revenue, and lost $138 million in 2013. Of course, it was a start-up, and of course it was bought for the revenue or profit reasons but to acquire the audience. But still, most M&A pros (and I used to one of those) have to smile at what the founders of the company got away with.