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Facebook Reports Third Quarter 2018 Results
MENLO PARK, Calif. – October 30, 2018 – Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter ended September 30, 2018.
"Our community and business continue to grow quickly, and now more than 2 billion people use at least one of our services every day," said Mark Zuckerberg, Facebook founder and CEO. "We're building the best services for private messaging and stories, and there are huge opportunities ahead in video and commerce as well."
Third Quarter 2018 Financial Highlights
Three Months Ended September 30, | Year-over-Year % Change | |||||||||
In millions, except percentages and per share amounts | 2018 | 2017 | ||||||||
Revenue: | ||||||||||
Advertising | $ | 13,539 | $ | 10,142 | 33 | % | ||||
Payments and other fees | 188 | 186 | 1 | % | ||||||
Total revenue | 13,727 | 10,328 | 33 | % | ||||||
Total costs and expenses | 7,946 | 5,206 | 53 | % | ||||||
Income from operations | $ | 5,781 | $ | 5,122 | 13 | % | ||||
Operating margin | 42 | % | 50 | % | ||||||
Provision for income taxes | $ | 775 | ||||||||
Effective tax rate | 13 | % | ||||||||
Net income | $ | 5,137 | $ | 4,707 | 9 | % | ||||
Diluted Earnings per Share (EPS) | $ | 1.76 | $ | 1.59 | 11 | % | ||||
Third Quarter 2018 Operational and Other Financial Highlights
• | Daily active users (DAUs) – DAUs were 1.49 billion on average for September 2018, an increase of 9% year-over-year. |
• | Monthly active users (MAUs) – MAUs were 2.27 billion as of September 30, 2018, an increase of 10% year-over-year. |
• | Mobile advertising revenue – Mobile advertising revenue represented approximately 92% of advertising revenue for the third quarter of 2018, up from approximately 88% of advertising revenue in the third quarter of 2017. |
• | Effective Tax Rate – Our effective tax rate was 13%, which was lower than expected primarily due to the withdrawal in August of an appellate court ruling in the case of Altera Corp. v. Commissioner. |
• | Capital expenditures – Capital expenditures for the third quarter of 2018 were $3.34 billion. |
• | Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $41.21 billion at the end of the third quarter of 2018. |
• | Headcount – Headcount was 33,606 as of September 30, 2018, an increase of 45% year-over-year. |
In addition, we estimate that more than 2.6 billion people now use Facebook, WhatsApp, Instagram, or Messenger (our "Family" of services) each month, and more than 2 billion people use at least one of our Family of services every day on average.
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The following information was filed by Facebook Inc (FB) on Tuesday, October 30, 2018 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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