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Facebook revenue up 59%, more depending on mobile ads

Staff writer |
Facebook reported financial results for the quarter ended September 30, 2014. Revenue totaled $3.20 billion, an increase of 59%, compared with $2.02 billion in Q3 2013.

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Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have increased by 58%.

Revenue from advertising was $2.96 billion, a 64% increase from the same quarter last year. Excluding the impact of year-over-year changes in foreign exchange rates, revenue from advertising would have increased by 63%.

Mobile advertising revenue represented approximately 66% of advertising revenue for the third quarter of 2014, up from approximately 49% of advertising revenue in the third quarter of 2013.

Payments and other fees revenue was $246 million, a 13% increase from the same quarter last year.

GAAP costs and expenses for the third quarter of 2014 were $1.81 billion, an increase of 41% from the third quarter of 2013. Non-GAAP information for 2013 has been updated to exclude amortization of intangible assets to conform to our current period presentation.

Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, non-GAAP costs and expenses were $1.38 billion in the third quarter of 2014, up 39% compared to $992 million for the third quarter of 2013.

GAAP income from operations for the third quarter of 2014 was $1.40 billion, up 90% compared to $736 million in the third quarter of 2013. Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, non-GAAP income from operations for the third quarter of 2014 was $1.82 billion, up 78% compared to $1.02 billion for the third quarter of 2013.

GAAP operating margin was 44% for the third quarter of 2014, compared to 37% in the third quarter of 2013. Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, non-GAAP operating margin was 57% for the third quarter of 2014, compared to 51% for the third quarter of 2013.

GAAP net income for the third quarter of 2014 was $806 million, up 90% compared to $425 million for the third quarter of 2013. Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, and income tax adjustments, non-GAAP net income for the third quarter of 2014 was $1.15 billion, up 73% compared to $666 million for the third quarter of 2013.

GAAP diluted EPS was $0.30 in the third quarter of 2014, up 76% compared to $0.17 in the third quarter of 2013. Excluding amortization of intangible assets, share-based compensation and related payroll tax expenses, and income tax adjustments, non-GAAP diluted EPS for the third quarter of 2014 was $0.43, up 59% compared to $0.27 in the third quarter of 2013.


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