The market has closed, and social network giant Facebook, Inc. (NASDAQ:$FB) has reported its second quarter earnings. They beat Wall Street’s expectations across the board with revenue of $9.32 billion.

Let’s dive into the numbers:

The California-based company reported net income of $3.89 billion ($1.32 per share), up from $2.28 billion (78 cents per share) in the 2016 period. According to FactSet, the consensus for EPS was $1.12.  Total revenue hit $9.3 billion, which is up from $6.4 billion in the 2016 period and surpassed analysts predictions of $9.2 billion in revenue. In addition, Facebook maintained its 17% year-over-year growth in users, with 66% of its 2.01 billion users visiting and using the network every day.

So, now that the second quarter earnings report is out, what’s the takeaway? Well, if you’re an investor, I would take note of the following numbers:

 

• Earnings Per Share (GAAP): $1.32 versus $1.13 expected, up 69% from the 2016 period

 

• Revenue: $9.32 billion versus $9.2 billion expected, up 45% from the year-ago period

 

• Monthly Active Users: 2.01 billion, up from 1.94 billion in the last quarter

 

• Daily Active Users: 1.32 billion, up from 1.28 billion in the last quarter

 

Interestingly, shares of Facebook fell 1.4% in after hours trading over confusion related to the company’s switch to reporting GAAP numbers, but it quickly bounced back. In the past three months, Facebook shares have increased 13%.

Featured Image: twitter