After Facebook’s disappointing IPO and rocky past few months, investors in the newly-public social network can breathe easy – but just barely.
The company’s second quarter earnings report today – its first since going public in May – just squeaked in at analysts’ expectations.
The company said revenue for the quarter was $ 1.18 billion, which is an increase of 32 percent over the same period last year. The average estimate from Wall Street analysts was $ 1.15 billion. Facebook also reported non-GAAP earnings of $ 295 million, or $ 0.12 per share, which was what analysts projected.
As for advertising revenue, the company said it earned $ 992 million, which represented 84 percent of the total revenue and a 28 percent increase from the same quarter last year.
As of the end of June, Facebook said it had 955 million monthly active users, which is an increase of 32 percent year-over-year, and 543 million monthly active mobile users, which marks an increase of 67 percent over the same period a year ago.
