Facebook Reports Second Quarter 2020 Results
Shares of the world’s biggest social network jumped more than 7% in after-market hours trading.
avatar
Staff or Guest writer for The Dog of Wall Street.
2020-07-30 16:51

Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter ended June 30, 2020.

Here the highlights:

  • Facebook daily active users (DAUs) – DAUs were 1.79 billion on average for June 2020, an increase of 12% year-over-year.
  • Facebook monthly active users (MAUs) – MAUs were 2.70 billion as of June 30, 2020, an increase of 12% year-over-year.
  • Family daily active people (DAP) – DAP was 2.47 billion on average for June 2020, an increase of 15% year-over-year.
  • Family monthly active people (MAP) – MAP was 3.14 billion as of June 30, 2020, an increase of 14% year-over-year.
  • Capital expenditures – Capital expenditures, including principal payments on finance leases, were $3.36 billion for the second quarter of 2020.
  • Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $58.24 billion as of June 30, 2020. On July 7, 2020, we paid approximately $5.8 billion at the then–current exchange rate for our investment in Jio Platforms Limited.
  • Headcount – Headcount was 52,534 as of June 30, 2020, an increase of 32% year-over-year.

 Mark Zuckerberg, Facebook founder and CEO said:

"We're glad to be able to provide small businesses the tools they need to grow and be successful online during these challenging times, and we're proud that people can rely on our services to stay connected when they can't always be together in person."

Facebook said that its user growth reflects increased engagement from consumers who are spending more time at home. Facebook's stock is up more than 5% in after-market trading.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Published On
2020-07-30 16:51

avatar
About the Author
Staff or Guest writer for The Dog of Wall Street.

FB


Why did Apple and Facebook pop after earnings?
It will be interesting to see big tech companies like Apple deal with the global chip shortage that is affecting production of tech goods all over the world.
By Mike Sakuraba | 1 week ago

Facebook accuses Apple Inc. of anticompetitive policies
Apple refuses to add Facebook’s cloud gaming app to its App Store
By Khan | 7 months ago

Is Facebook's Reputation Affecting its Stock?
In a recent Business Insider poll of young investors, only two percent of the group chose Facebook as the FAANG stock to own for the next ten years, compared to Amazon’s 51 percent.
By Mike Sakuraba | 8 months ago
FB

Why did Pinterest and Microsoft Fall after Earnings?
Earnings season is upon us and several big tech companies began reporting their earnings this week.
By Mike Sakuraba | 1 week ago

NIO is back on our radar
all Street is bullish as well, with a median analyst price target of $55.46, which represents an impressive 40% upside from the stock’s current price levels.
By Mike Sakuraba | 1 week ago

2 Stocks that can survive the chip shortage
Both of these companies trade at a premium, but as industry leaders and even paying out a small quarterly dividend to shareholders, ASML and NVIDIA are poised to thrive in the future, making them excellent ways to play the current chip shortage.
By Mike Sakuraba | 2 weeks ago