Executive Summary

• Facebook reported 2Q16 revenues of $6.4 billion, up 59.2% from $4.0 billion in the year-ago quarter and beating the consensus estimate of $6.0 billion. Non-GAAP EPS was $0.97, up 92.7% year over year and well ahead of the $0.81 consensus estimate.
• There was an average of 1.13 billion daily active users (DAUs) in June, up 17% year over year. Of these users, 1.03 billion were mobile daily users, up 22% year over year.
• The company did not provide guidance, however management commented they were pleased with the firm’s progress in video as they move toward a world in which video is at the heart of all the company’s services.