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Facebook Reports Fourth Quarter and Full Year 2018 Results
MENLO PARK, Calif. – January 30, 2019 – Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter
and full year ended December 31, 2018.
"Our community and business continue to grow," said Mark Zuckerberg, Facebook founder and CEO. "We've
fundamentally changed how we run our company to focus on the biggest social issues, and we're investing more to build
new and inspiring ways for people to connect."
Fourth Quarter and Full Year 2018 Financial Highlights
Three Months Ended
December 31,
Ye ar-over-
Ye ar %
Change
Ye ar En de d De ce mb er
31,
Ye ar-over-
Ye ar %
Change
In millions, except percentages and per share amounts
2018
2017
2018
2017
Revenue:
Advertising
$
16,640
$
12,779
30
%
$
55,013
$
39,942
38
%
Payments and other fees
274
193
42
%
825
711
16
%
Total revenue
16,914
12,972
30
%
55,838
40,653
37
%
Total costs and expenses
9,094
5,620
62
%
30,925
20,450
51
%
Income from operations
$
7,820
$
7,352
6
%
$
24,913
$
20,203
23
%
Operating margin
46
%
57
%
45
%
50
%
Provision for income taxes
(1)
$
1,089
$
3,194
(66
)%
$
3,249
$
4,660
(30
)%
Effective tax rate
(1)
14
%
43
%
13
%
23
%
Net income
(1)
$
6,882
$
4,268
61
%
$
22,112
$
15,934
39
%
Diluted Earnings per Share (EPS)
(1)
$
2.38
$
1.44
65
%
$
7.57
$
5.39
40
%
(1) In December 2017, the 2017 Tax Cuts and Jobs Act was enacted and significantly impacted U.S. tax law. As a result of this legislation, our fourth quarter and full
year 2017 provision for income taxes increased by $2.27 billion, which impacted our effective tax rate, net income and diluted EPS for such periods. Our diluted
EPS decreased by $0.77 for both the fourth quarter and full year 2017.
Fourth Quarter and Full Year 2018 Operational and Other Financial Highlights
• Daily active users (DAUs) – DAUs were 1.52 billion on average for December 2018, an increase of 9% year-
over-year.
• Monthly active users (MAUs) – MAUs were 2.32 billion as of December 31, 2018, an increase of 9% year-over-
year.
• Mobile advertising revenue – Mobile advertising revenue represented approximately 93% of advertising
revenue for the fourth quarter of 2018, up from approximately 89% of advertising revenue in the fourth quarter
of 2017.
• Capital expenditures – Capital expenditures were $4.37 billion and $13.92 billion for the fourth quarter and full
year 2018, respectively.
• Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities
were $41.11 billion at the end of the fourth quarter of 2018.
• Headcount – Headcount was 35,587 as of December 31, 2018, an increase of 42% year-over-year.
In addition, we estimate that around 2.7 billion people now use Facebook, Instagram, WhatsApp, or Messenger (our
"Family" of services) each month, and more than 2 billion people use at least one of our Family of services every day on
average.