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Facebook (FB) 2Q18 Results: Misses Revenue Estimates and Warns of Slower Growth

Executive Summary

  • Facebook reported 2Q18 diluted EPS of $1.74, beating the $1.72 consensus estimate by $0.02 and up 32% year over year. Revenues were $13.23 billion, up 42% year over year but missing the consensus estimate of $13.36 billion.
  • Daily active users totaled 1.47 billion and monthly active users totaled 2.23 billion; both metrics were up 11% year over year. Capital expenditures were $3.46 billion, up 140% year over year.
  • Revenue growth decelerated by seven percentage points quarter over quarter, and the company forecast that revenue growth will continue to slow by high single digits over the next two quarters.

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