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Three Months Ended June 30, | Year-over-Year % Change | |||||||||
In millions, except percentages and per share amounts | 2019* | 2018 | ||||||||
Revenue: | ||||||||||
Advertising | $ | 16,624 | $ | 13,038 | 28 | % | ||||
Payments and other fees | 262 | 193 | 36 | % | ||||||
Total revenue | 16,886 | 13,231 | 28 | % | ||||||
Total costs and expenses | 12,260 | 7,368 | 66 | % | ||||||
Income from operations | $ | 4,626 | $ | 5,863 | (21 | )% | ||||
Operating margin | 27 | % | 44 | % | ||||||
Provision for income taxes | $ | 2,216 | ||||||||
Effective tax rate | 46 | % | ||||||||
Net income | $ | 2,616 | $ | 5,106 | (49 | )% | ||||
Diluted earnings per share (EPS) | $ | 0.91 | $ | 1.74 | (48 | )% |
• | Daily active users (DAUs) – DAUs were 1.59 billion on average for June 2019, an increase of 8% year-over-year. |
• | Monthly active users (MAUs) – MAUs were 2.41 billion as of June 30, 2019, an increase of 8% year-over-year. |
• | Mobile advertising revenue – Mobile advertising revenue represented approximately 94% of advertising revenue for the second quarter of 2019, up from approximately 91% of advertising revenue in the second quarter of 2018. |
• | Capital expenditures – Capital expenditures, including principal payments on finance leases, were $3.78 billion for the second quarter of 2019. |
• | Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $48.60 billion at the end of the second quarter of 2019. |
• | Headcount – Headcount was 39,651 as of June 30, 2019, an increase of 31% year-over-year. |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Meta Platforms, Inc..
Meta Platforms, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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38 38 An accounting policy is deemed to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, if different estimates reasonably could have been used, or if changes in the estimate that are reasonably possible could materially impact the financial statements.
Cash and cash equivalents, and marketable securities were $48.60 billion as of June 30, 2019, an increase of $7.48 billion from December 31, 2018, mostly due to $17.92 billion of cash generated from operations, offset by $7.74 billion for capital expenditures, including principal payments on finance leases, $1.76 billion for repurchases of our Class A common stock, and $1.12 billion of taxes paid related to net share settlement of equity awards.
The increases in both periods were mostly due to increases in operational expenses related to our data centers and technical infrastructure, as well as higher traffic acquisition costs.
25 25 In the second quarter of 2019, we also continued to focus on our main revenue growth priorities: (i) helping marketers use our products to connect with consumers where they are and (ii) making our ads more relevant and effective.
Factors that could cause or contribute to these differences include those discussed below and elsewhere in this Quarterly Report on Form 10-Q, particularly in Part II, Item 1A, "Risk Factors."
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Financial Statements, Disclosures and Schedules
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Meta Platforms, Inc. provided additional information to their SEC Filing as exhibits
Ticker: META
CIK: 1326801
Form Type: 10-Q Quarterly Report
Accession Number: 0001326801-19-000055
Submitted to the SEC: Wed Jul 24 2019 5:12:30 PM EST
Accepted by the SEC: Thu Jul 25 2019
Period: Sunday, June 30, 2019
Industry: Computer Programming Data Processing