Facebook Reports Fourth Quarter and Full Year 2018 Results
 
MENLO PARK, Calif. – January 30, 2019 – Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter and full year ended December 31, 2018.

"Our community and business continue to grow," said Mark Zuckerberg, Facebook founder and CEO. "We've fundamentally changed how we run our company to focus on the biggest social issues, and we're investing more to build new and inspiring ways for people to connect."

Fourth Quarter and Full Year 2018 Financial Highlights

 
Three Months Ended December 31,
 
Year-over-Year % Change
 
Year Ended December 31,
 
Year-over-Year % Change
In millions, except percentages and per share amounts
2018
 
2017
 
 
2018
 
2017
 
Revenue:
 
 
 
 
 
 
 
 
 
 
 
   Advertising
$
16,640

 
$
12,779

 
30
 %
 
$
55,013

 
$
39,942

 
38
 %
   Payments and other fees
274

 
193

 
42
 %
 
825

 
711

 
16
 %
Total revenue
16,914

 
12,972

 
30
 %
 
55,838

 
40,653

 
37
 %
Total costs and expenses
9,094

 
5,620

 
62
 %
 
30,925

 
20,450

 
51
 %
Income from operations
$
7,820

 
$
7,352

 
6
 %
 
$
24,913

 
$
20,203

 
23
 %
Operating margin
46
%
 
57
%
 

 
45
%
 
50
%
 
 
Provision for income taxes(1)
$
1,089

 
$
3,194

 
(66
)%
 
$
3,249

 
$
4,660

 
(30
)%
Effective tax rate(1)
14
%
 
43
%
 


 
13
%
 
23
%
 
 
Net income(1)
$
6,882

 
$
4,268

 
61
 %
 
$
22,112

 
$
15,934

 
39
 %
Diluted Earnings per Share (EPS)(1)
$
2.38

 
$
1.44

 
65
 %
 
$
7.57

 
$
5.39

 
40
 %
(1) In December 2017, the 2017 Tax Cuts and Jobs Act was enacted and significantly impacted U.S. tax law. As a result of this legislation, our fourth quarter and full year 2017 provision for income taxes increased by $2.27 billion, which impacted our effective tax rate, net income and diluted EPS for such periods. Our diluted EPS decreased by $0.77 for both the fourth quarter and full year 2017.

Fourth Quarter and Full Year 2018 Operational and Other Financial Highlights

Daily active users (DAUs) – DAUs were 1.52 billion on average for December 2018, an increase of 9% year-over-year.
Monthly active users (MAUs) – MAUs were 2.32 billion as of December 31, 2018, an increase of 9% year-over-year.
Mobile advertising revenue – Mobile advertising revenue represented approximately 93% of advertising revenue for the fourth quarter of 2018, up from approximately 89% of advertising revenue in the fourth quarter of 2017.
Capital expenditures – Capital expenditures were $4.37 billion and $13.92 billion for the fourth quarter and full year 2018, respectively.
Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $41.11 billion at the end of the fourth quarter of 2018.
Headcount – Headcount was 35,587 as of December 31, 2018, an increase of 42% year-over-year.

In addition, we estimate that around 2.7 billion people now use Facebook, Instagram, WhatsApp, 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.

1


The following information was filed by Facebook Inc (FB) on Wednesday, January 30, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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