Menlo Park-based social networking giant Facebook used its second quarter 2018 earnings to reveal a total quarterly revenue of $13.23 billion USD (roughly $17.26 billion CAD).
The company’s quarterly net income was $5.11 billion USD ($6.67 billion CAD), an increase of 31 percent compared to 2017.
Additionally, the company boasted 1.47 billion daily active users (DAU) as of June 2018, as well as 2.23 billion monthly active users (MAU) as of June 30th, 2018. That latter number fell short of analyst consensus estimates of 2.25 billion.
Facebook’s advertising revenue represented the largest chunk of the company’s overall earnings, totalling $13.04 billion USD (roughly $17.01 billion CAD).
The company’s advertising revenue grew by 42 percent in comparison to Q2 2017..
According to a July 25th, 2018 media release, Facebook currently employs 30,275 people, a figure that represents a 47 percent year-over-year increase when compared to Q2 2017.
Facebook’s DAU represents an 11 percent year-over-year increase and the company’s MAU represents an 11 percent year-over-year increase.
“Our community and business continue to grow quickly,” said Mark Zuckerberg, Facebook founder and CEO, in the same July 25th media release.
“We are committed to investing to keep people safe and secure, and to keep building meaningful new ways to help people connect.”
Facebook’s stock price closed at $217.50 USD (roughly $283.70 CAD), but the stock has been on a steady downward arc since markets closed.
Facebook’s stock currently sits at $194.85 USD (roughly $254.13 CAD) at the time of writing.
Source: Facebook
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