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Facebook reported its 2017 second quarter earnings today. Here’s what you need to know:

  • Facebook reported GAAP earnings per share of $1.32 on revenue of $9.32 billion, up 45 percent year-over-year. Analysts expected earnings per share of $1.11 on revenue of $9.2 billion. (Note: Facebook no longer reports non-GAAP expenses, income, tax rate, and earnings per share)

  • Facebook has now exceeded earnings expectations in 20 of its 21 reports since going public in 2012. It is also the seventh straight quarter of Facebook growing revenue by more than 45 percent year-over-year, though revenue growth overall is declining.
  • Facebook now has 2 billion monthly users. That’s up 17 percent year-over-year. The company has 1.32 billion daily active users, also up 17 percent. Both numbers were in line with analyst expectations.

  • Shares went down immediately after the markets closed, but came back up and are now up 1 percent in after-hours trading. Shares are up more than 35 percent in the last year.
  • Facebook’s mobile business continues to grow. Mobile advertising revenue, which came in at $7.9 billion, now accounts for 87 percent of Facebook’s overall revenue, up from 84 percent a year ago. Total revenue from advertising came in at $9.16 billion, up 47 percent year-over-year.
  • Employee growth: Facebook added 1,888 employees last quarter. Total headcount is up to 20,658, up 43 percent from this time last year.
  • Zuck: “We had a good second quarter and first half of the year,” Facebook CEO Mark Zuckerberg said in a statement. “Our community is now two billion people and we’re focusing on bringing the world closer together.”

Update:

On the company’s earnings call, it revealed that there are now 1 billion daily active users on WhatsApp and 250 million daily users on the app’s Snapchat Stories clone.

There were also many questions about Facebook’s plan to monetize Messenger.

“We will be slow and deliberate,” Facebook COO Sheryl Sandberg said. “We’re always looking at the long run. We do not manage this company quarter to quarter.”

Other takeaways from the call:

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