Facebook Inc. (Nasdaq: FB) posted higher 2Q16 results helped by mobile advertising revenue growth. Net income almost tripled to $2.05Bil or $0.71 per share from $719MM or $0.25 per share a year ago. Excluding items, $FB earned $0.97 per share. Mobile advertising revenue represented approx. 84% of ad revenue for 2Q16, up from 76% a year ago. Its daily active users for June grew 17% from last year to 1.13Bil on average. Of these, 1.03Bil used the service on mobile, up 22% YoverY. Monthly active users were up by 15% to 1.71Bil as of June 30, 2016, and of these, mobile monthly active users grew by 20% to 1.57Bil.
During call, $FB said that in 2Q16, the company launched 360 photos. The company is making good progress on core services within the Facebook app like search; now people are doing more than 2Bil searches a day. For the first time, more than 1Bil people are using Messenger every month. Also the company announced the first successful flight of Aquila that will beam Internet to remote places in 2Q16. The company is going to eventually work with telecom operators & governments around the world to connect people on the outskirts. On Oculus, $FB said that it filled all of its pre-orders for Oculus Rift and is seeing increasing demand from retail.
$FB said 2Q16 was its strongest in over three years in terms of absolute YoverY growth of monthly and daily actives on Facebook. In the quarter, $FB said the average price per ad rose 9%, while total ad impressions rose 49%, driven by growth in ad impressions served in Facebook's mobile news feed.
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Submitted July 27, 2016 at 05:59PM by Robert-Phillips http://ift.tt/2aaJpEC
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