Today, Facebook announced their third quarter earnings and have managed to top analysts’ estimates despite concerns. The social network held their IPO on May 18th of 2012 which makes this their second quarter as a public company.
Their adjusted earnings were 12 cents per share with revenue of $1.262 billion on a non-GAAP basis. Estimates were expecting adjusted earnings of 11 cents per share on revenue of $1.23 billion.
On a GAAP basis, Facebook posted a net loss of 2 cents per share. Adjusted net income was $311 million which again beat analysts’ estimates of $289.7 million. Daily active users were up 28 percent at 584 million compared to the same time last year. Also, mobile active users were up 61 percent compared to last year at 604 million.
When it came to advertising revenue, 14 percent was reported to come from mobile in the third quarter. Total revenue was up 36% from last year at $1.09 billion and represents 86 percent of total revenue.
Payments revenue was up 13 percent, however that revenue is down 9 percent sequentially at $176 million. Average revenue per user is up 5 cents at $1.29 compared to last year and up 1 cent from last quarter.
It’s worth noting that this number is down from the fourth quarter of 2011 which had average revenue per user at $1.38, an 11 cent decrease from where it is now. As of 5:50 PM Eastern, Facebook stock was up over 10 percent after hours.
For a full look at the third quarter earnings report, go here.