Mark Zuckerberg opens Facebook‘s Q2 earnings release with the most generic comment I’ve ever seen from a CEO in a document that companies typically use to hype themselves. “We had a good second quarter,” he says. “Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world.” The numbers speak louder, I guess: Facebook’s net income of $788M is up 138% vs the period last year on revenues of $2.91B, +60.5%. That beat the $2.81B that analysts expected. Adjusted earnings at 42 cents a share also topped expectations for 32 cents.
The results sent Facebook shares on a ride in post-market trading, up 4%+ after an initial drop. The stock would hit a new high if the increase holds up tomorrow during the trading day. (more…)