/// Not Good Enough: Facebook Beats Estimates, And Shares Are Down 5 Percent
First look at Facebook Q4 earnings : Revenue of $1.59 billion and earnings of 17 cents per share. The Street was expecting around $1.52 billion and 15 cents a share. Shares immediately headed down, so presumably investors wanted a bigger beat. Per usual, not a lot of detail in the press release (full text below), aside from user numbers and a few quick details. The only financial one of note: Mobile accounted for 23 percent of ad revenue, up from approximately 14 percent in Q3. Would have been nice to hear about Facebook Exchange, Sponsored Stories and other elements of the business, but we’ll assume that will come up in the call. Overall ad revenue of $1.33 billion was up 41 percent year-over-year; Facebook says that if you factor out currency effects, it would be up 43 percent. Facebook has 1.06 billion active users at the end of December, which means they generated $1.54 in revenue a piece in the last 3 months of 2012. A year ago that number was $1.38. Here’s a handy guide from Citi analyst Neil Doshi that should (maybe?) provide some insight into the way investors will react to the numbers (click to enlarge): Facebook Reports Fourth Quarter and Full Year 2012 Results MENLO PARK, Calif
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Not Good Enough: Facebook Beats Estimates, And Shares Are Down 5 Percent
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