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Facebook Inc. (NASDAQ:FB) reported its results for the third quarter. Facebook, Inc. operates as a social networking company worldwide. The company builds tools that enable users to connect, share, discover, and communicate with each other; enables developers to build social applications on Facebook or to integrate their Websites with Facebook; and offers products that enable advertisers and marketers to engage with its users.
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Facebook Inc. Earnings Cheat Sheet
Results: Net loss for the company was $59 million (2 cents per share).
Actual vs. Wall St. Expectations: Facebook Inc. reported adjusted net income of 12 cents per share. By that measure, the company beat the mean estimate of 7 cents per share.
Quoting Management: “As proud as I am that a billion people use Facebook each month, I’m also really happy that over 600 million people now share and connect on Facebook every month using mobile devices,” said Mark Zuckerberg, Facebook founder and CEO. “People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company.”
The company topped expectations last quarter after falling short of forecasts in the second quarter with a loss of 8 cents versus a mean estimate of net income of 9 cents per share.
Looking Forward: Expectations for the fourth quarter have not changed from 9 cents. At 7 cents per share, the average estimate for the fiscal year has fallen from 37 cents ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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