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Quarterly Earnings SlidesQ2 2013
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117 124 126 129 130 132 135 139 142
127 135 143152 154 160 169
179 182
8598 105
119 129141
153167 181
87100
109126 139
152161
180195
417457 483
526552
584618
665 699
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
3
Daily Active Users (DAUs)
DAUs / MAUs
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
56% 57% 57% 58% 58% 58% 59% 60% 61%
Rest of World
Asia
Europe
US & Canada
Please see Facebook's most recent Form 10-Q filed with the SEC for definitions of user activity used to determine the number of our DAUs, MAUs, and mobileMAUs. The number of DAUs, MAUs, and mobile MAUs do not include Instagram users unless they would otherwise qualify as such users, respectively, based ontheir other activities on Facebook.
In Millions
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169 176 179 183 186 189 193 195 198
212 221 229 239246 253 261 269 272
174 196212 234 255 277
298 319339183
207225
245268
288304 327 346
739800
845901
9551,007
1,0561,110
1,155
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
4
Monthly Active Users (MAUs)
In MillionsRest of World
Asia
Europe
US & Canada
Please see Facebook's most recent Form 10-Q filed with the SEC for definitions of user activity used to determine the number of our DAUs, MAUs, and mobileMAUs. The number of DAUs, MAUs, and mobile MAUs do not include Instagram users unless they would otherwise qualify as such users, respectively, based ontheir other activities on Facebook.
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Mobile-Only Monthly Active Users (Mobile-Only MAUs)
In Millions
102
126
157
189
219
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Mobile-only MAUs are defined as users who accessed Facebook solely through mobile apps or our mobile website during a given month. The number ofmobile-only MAUs do not include Instagram users unless they would otherwise qualify as such users based on their other activities on Facebook.
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$776 $798$943 $872
$992$1,086
$1,329$1,245
$1,599$119 $156
$188$186
$192$176
$256 $213
$214
$895$954
$1,131$1,058
$1,184$1,262
$1,585
$1,458
$1,813
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Payments and other fees
Advertising
Revenue
In Millions
8
*In the fourth quarter of 2012 we recognized revenue from four months of Payments transactions for accounting reasons detailed on pages 47 and 48 of ourForm 10-K filed on February 1, 2013.
*
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$471 $482 $567 $525$590 $637
$780$679
$848
$275 $290
$361$328
$346$341
$440
$423
$505
$82 $104
$115$118
$135$154
$198
$197
$247
$65
$78
$87$87
$113$130
$167
$159
$213
$895$954
$1,131$1,058
$1,184$1,262
$1,585
$1,458
$1,813
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Rest of World
Asia
Europe
US & Canada
9
Revenue by User Geography
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform arevenue-generating activity. This allocation differs from our revenue by geography disclosure in our condensed consolidated financialstatements where revenue is geographically apportioned based on the location of the marketer or developer.
In Millions
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Rest of World
Asia
Europe
US & Canada
10
Advertising Revenue by User Geography
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform arevenue-generating activity. This allocation differs from our revenue by geography disclosure in our condensed consolidated financialstatements where revenue is geographically apportioned based on the location of the marketer or developer.
$394 $395$462
$419$479 $538
$631$552
$721
$245 $245
$306$274
$294 $295
$374$367
$451
$74 $88
$95$99
$115$133
$168$176
$225
$61 $71
$79$79
$104$120
$156
$150
$202
$776 $798
$943$872
$992$1,086
$1,329$1,245
$1,599
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
In Millions
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Rest of World
Asia
Europe
US & Canada
$77 $87$105 $106 $111 $99
$149$127 $127
$30$45
$55 $54 $52
$46
$66
$56 $54
$8
$16
$20 $19 $20
$21
$30
$21 $22
$4
$7
$8 $8 $9$10
$11
$9 $11
$119
$156
$188$186 $192
$176
$256
$213 $214
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
11
Payments & Other Revenue by User Geography
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform arevenue-generating activity. This allocation differs from our revenue by geography disclosure in our condensed consolidated financialstatements where revenue is geographically apportioned based on the location of the marketer or developer.
*In the fourth quarter of 2012 we recognized revenue from four months of Payments transactions for accounting reasons detailed on pages 47and 48 of our Form 10-K filed on February 1, 2013.
In Millions
*
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Average Revenue per User (ARPU)
$1.21 $1.18$1.46 $1.38
$1.67
$0.21 $0.18
$0.26$0.21
$0.20
$1.43$1.37
$1.71$1.60
$1.87
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Europe
$0.47 $0.50$0.58 $0.57
$0.68
$0.08 $0.08
$0.10 $0.07
$0.07
$0.55$0.58
$0.69$0.64
$0.75
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Asia
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they performa revenue-generating activity. This allocation differs from our revenue by geography disclosure in our condensed consolidated financial statements whererevenue is geographically apportioned based on the location of the marketer or developer. Please see Facebooks Form 10-Q for the quarter ended June30, 2013 for the definition of ARPU.
*In the fourth quarter of 2012 we recognized revenue from four months of Payments transactions for accounting reasons detailed on pages 47 and 48 ofour Form 10-K filed on February 1, 2013.
$0.40 $0.43$0.53
$0.48$0.60
$0.03$0.04
$0.04$0.03
$0.03
$0.44$0.47
$0.56
$0.50
$0.63
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Rest of World
$1.07 $1.11$1.29 $1.15 $1.41
$0.21 $0.18
$0.25
$0.20
$0.19$1.28 $1.29
$1.54
$1.35
$1.60
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Worldwide
$2.59 $2.87$3.30 $2.85
$3.67
$0.60$0.53
$0.78
$0.65
$0.65
$3.20$3.40
$4.08
$3.50
$4.32
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
US & Canada
Payments*
Advertising
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Share-Based Compensation Expense
13
$58 $59 $74 $97$113 $138
$137 $135$175
$986
$28 $24 $9$17
$64 $70 $76$103
$1,106
$179 $184 $170
$224
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
In MillionsPre-2011 RSUs
Post-2011 RSUs
Options & Other
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Expenses as a % of Revenue
11% 12% 10% 12% 13%
33%
13% 12% 14% 15%
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Marketing & Sales
25% 25% 24%28% 25%
31%
26% 25%28%
26%
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Cost of Revenue
9% 11% 10% 11% 10%
60%
19% 19% 20% 19%
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Research & Development
11% 10% 9% 10% 8%
39%
12% 11% 12% 10%
Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
General & Administrative
Share-based compensation + Payroll tax related to share-based compensation All other expenses
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Income (Loss) from Operations
$407 $414$548
$381
($743)
$377$523
$373$562
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
GAAP Income (Loss) from Operations (in millions)
$477 $484$624
$485 $515 $525
$736
$563
$794
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Non-GAAP Income from Operations (in millions)
15
Non-GAAP income (loss) from operations excludes share-based compensation expense, payroll tax expenses related to share-basedcompensation, and related income tax adjustmentssee the Appendix for a reconciliation of this non-GAAP measure to GAAP income (loss)from operations.
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Operating Margin
53% 51% 55%46% 43% 42% 46% 39%
44%
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Non-GAAP Operating Margin
45% 43% 48% 36%
(63%)
30% 33% 26% 31%
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
GAAP Operating Margin
Non-GAAP operating margin excludes share-based compensation expense, payroll tax expenses related to share-based compensation, andrelated income tax adjustmentssee the Appendix for a reconciliation of this non-GAAP measure to GAAP operating margin.
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Effective Tax Rate
Q212 through Q412 GAAP effective tax rates were influenced by significant share-based compensation expense resulting from our initial publicoffering, a portion of which is not tax-deductiblesee the Appendix for a reconciliation of this non-GAAP measure to GAAP effective tax rate.
GAAP Effective Tax Rate
Non-GAAP Effective Tax Rate
Q2 Q3 Q4 Q1 Q2 FY FY
($ in millions) 2012 2012 2012 2013 2013 2011 2012
Non-GAAP income before provision for income taxes 493 520 718 543 777 1,919 2,217
Non-GAAP provision for income taxes 198 209 292 231 289 755 900
Effective Tax Rate 40% 40% 41% 43% 37% 39% 41%
Q2 Q3 Q4 Q1 Q2 FY FY
($ in millions) 2012 2012 2012 2013 2013 2011 2012
GAAP (loss) income before provision for income taxes (765)$ 372$ 505$ 353 545 1,695 494
GAAP (provision for) benefit from income taxes 608 (431) (441) (134) (212) (695) (441)
Effective Tax Rate 79% 116% 87% 38% 39% 41% 89%
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Net Income (Loss)
$240 $227$302
$205
($157)($59)
$64
$219$333
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
Non-GAAP net income excludes share-based compensation expense, payroll tax expenses related to share-based compensation, and relatedincome tax adjustmentssee the Appendix for a reconciliation of this non-GAAP measure to GAAP net income.
$285 $273$360
$287 $295 $311$426
$312
$488
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
GAAP Net Income (Loss) (in millions)
Non-GAAP Net Income (in millions)
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Diluted EPS
$0.11 $0.10$0.14
$0.09
($0.08)
($0.02)
$0.03
$0.09$0.13
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
$0.12 $0.12$0.15
$0.12 $0.12 $0.12
$0.17
$0.12
$0.19
Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
GAAP Diluted EPS
Non-GAAP Diluted EPS
Non-GAAP diluted EPS excludes share-based compensation expense, payroll tax expenses related to share-based compensation, and relatedincome tax adjustmentssee the Appendix for a reconciliation of this non-GAAP measure to GAAP diluted EPS.
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Capital Investments
Millions of DollarsProperty and equipment acquired
under capital leases
Purchases of property
and equipment
$293
$606
$1,235
$217
$473
$340
$510
$1,079
$1,575
2010 2011 2012
AnnualQuarterly
$866
$595
$90
$11
$956
$606
1H'12 1H'13
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Appendix
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Reconciliations
Income from Operations(in millions) Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
GAAP income (loss) from operations 407$ 414$ 548$ 381$ (743)$ 377$ 523$ 373$ 562$
Share-based compensation expense 64 70 76 103 1,106 179 184 170 224
Payroll tax expenses related to share-based compensation 6 - - 1 152 (31) 29 20 8
Non-GAAP income from operations 477$ 484$ 624$ 485$ 515$ 525$ 736$ 563$ 794$
Operating Margins Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
GAAP operating margin 45% 43% 48% 36% (63%) 30% 33% 26% 31%
Share-based compensation expense 7% 7% 7% 10% 93% 14% 12% 12% 12%
Payroll tax expenses related to share-based compensation 1% 0% 0% 0% 13% (2%) 2% 1% 0%
Non-GAAP operating margin 53% 51% 55% 46% 43% 42% 46% 39% 44%
Net Income (Loss) (in millions) Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13GAAP net income (loss) 240$ 227$ 302$ 205$ (157)$ (59)$ 64$ 219$ 333$
Share-based compensation expense 64 70 76 103 1,106 179 184 170 224
Payroll tax expenses related to share-based compensation 6 - - 1 152 (31) 29 20 8
Income tax adjustments (25) (24) (18) (22) (806) 222 149 (97) (77)
Non-GAAP net income 285$ 273$ 360$ 287$ 295$ 311$ 426$ 312$ 488$
Diluted Earnings (Loss) Per Share Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13
GAAP diluted earnings (loss) per share 0.11$ 0.10$ 0.14$ 0.09$ (0.08)$ (0.02)$ 0.03$ 0.09$ 0.13$
Net income attributable to participating securities 0.05 0.05 0.05 0.04 - - - - -
Non-GAAP adjustments to net income (loss) 0.03 0.03 0.04 0.05 0.24 0.15 0.14 0.03 0.06
Non-GAAP adjustments to diluted shares (0.07) (0.06) (0.08) (0.06) (0.04) (0.01) - - -
Non-GAAP diluted earnings per share 0.12$ 0.12$ 0.15$ 0.12$ 0.12$ 0.12$ 0.17$ 0.12$ 0.19$
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Reconciliations (continued)
Effective Tax Rate (in millions) Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 FY2011 FY2012
GAAP (loss) income before tax (765)$ 372$ 505$ 353$ 545$ 1,695$ 494$
GAAP benefit from (provision for) income taxes 608 (431) (441) (134) (212) (695) (441)
GAAP effective tax rate 79% 116% 87% 38% 39% 41% 89%
GAAP benefit from (provision for) income taxes (765)$ 372$ 505$ 353$ 545$ 1,695$ 494$
Share-based compensation and related payroll tax expenses 1,258 148 213 190 232 224 1,723
Non-GAAP income before provision for income taxes 493$ 520$ 718$ 543$ 777$ 1,919$ 2,217$
Non-GAAP provision for income taxes 198 209 292 231 289 755 900
Non-GAAP effective tax rate 40% 40% 41% 43% 37% 39% 41%
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