Facebook beats Q1 targets handily amid CFO shuffle

By Rachel King for Between the Lines | April 23, 2014 

Just looking at the multi-billion dollar acquisitions of Whatsapp and Oculus Rift, it was quite a first quarter for Facebook. Let’s see how those dents affected the balance sheet.

  • The social network reported a first quarter net income of $642 million, or 25 cents per share (statement).
  • Non-GAAP earnings were 34 cents per share on a revenue of $2.5 billion.
  • Wall Street was looking for earnings of 24 cents per share on a revenue of $2.36 billion.
  • Membership was up across the board, especially on mobile where daily active users increased to 609 and counting, up 43 percent year-over-year. Monthly mobile active users were up by 34 percent to 1.01 billion.
  • Thus, it is no surprise that mobile advertising revenue accounted for roughly 59 percent of total advertising revenue during Q1. Mobile ads only accounted for just under a third of advertising revenue this time last year.
  • Overall, Facebook now retails more than 1.28 billion monthly active users, up 15 percent year-over-year.

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