Facebook Reports Third Quarter 2017 Results
 
MENLO PARK, Calif. – November 1, 2017 – Facebook, Inc. (NASDAQ: FB) today reported financial results for the quarter ended September 30, 2017.

"Our community continues to grow and our business is doing well," said Mark Zuckerberg, Facebook founder and CEO. "But none of that matters if our services are used in ways that don't bring people closer together. We're serious about preventing abuse on our platforms. We're investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits."
 

Third Quarter 2017 Financial Highlights

 
Three Months Ended September 30,
 
Year-over-Year % Change
In millions, except percentages and per share amounts
2017
 
2016
 
Revenue:
 
 
 
 
 
   Advertising
$
10,142

 
$
6,816

 
49
 %
   Payments and other fees
186

 
195

 
(5
)%
Total revenue
10,328

 
7,011

 
47
 %
Total costs and expenses(1)
5,206

 
3,894

 
34
 %
Income from operations(1)
$
5,122

 
$
3,117

 
64
 %
Operating margin(1)
50
%
 
44
%
 

Provision for income taxes
$
529

 
 
 

Effective tax rate
10
%
 
 
 


Net income(1)
$
4,707

 
$
2,627

 
79
 %
Diluted Earnings per Share (EPS)(1)
$
1.59

 
$
0.90

 
77
 %
(1) In the fourth quarter of 2016, we elected to early adopt Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvement to Employee Share-based Payment Accounting (ASU 2016-09). We were required to reflect any adoption adjustments as of January 1, 2016, the beginning of the annual period that included the interim period of adoption. As such, certain financial highlights data for the three months ended September 30, 2016 had been adjusted to reflect the impact of ASU 2016-09 adoption. See Note 1 — Summary of Significant Accounting Policies (Note 1) in the notes to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2016 for detailed adoption information.

Third Quarter 2017 Operational and Other Financial Highlights

Daily active users (DAUs) – DAUs were 1.37 billion on average for September 2017, an increase of 16% year-over-year.
Monthly active users (MAUs) – MAUs were 2.07 billion as of September 30, 2017, an increase of 16% year-over-year.
Mobile advertising revenue – Mobile advertising revenue represented approximately 88% of advertising revenue for the third quarter of 2017, up from approximately 84% of advertising revenue in the third quarter of 2016.
Capital expenditures – Capital expenditures for the third quarter of 2017 were $1.76 billion.
Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $38.29 billion at the end of the third quarter of 2017.
Headcount – Headcount was 23,165 as of September 30, 2017, an increase of 47% year-over-year.




1


The following information was filed by Facebook Inc (FB) on Wednesday, November 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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