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Thursday, 25 July 2013 10:44

Facebook starts to turn around

Written by Nick Farrell

Value starts to rise

Facebook reported a second-quarter profit. The company's sales rose to $1.81bn, a 53 per cent increase from the previous quarter. This figure was a slight increase from the $1.62bn analysts expected the company would make.

Facebook stock has returned a mediocre performance since the company went public in May 2012, you can pick up a second hand Facebook share for $31.81 during after-hours trading. Part of the reason for the Facebook turn around is that it has finally managed to get more cash from mobile.

The amount of total advertising revenue jumped from 30 per cent in the first-quarter to 41 per cent in the second, comprising $656 million in sales. The company reported a $562m profit and $333m net income. This time last year, the company reported a loss of $157m in the second quarter.

The number of Facebook daily active users increased from 665 million in the first quarter to 669 million in the second. In June, the site had an average of 469 million daily users on mobile. Facebook had 819 million mobile monthly active users in second quarter of 2013, compared to 543 million in the second quarter of 2012. The new figures were also a boost from the 751 million reported last quarter.

Nick Farrell

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