Facebook, Inc. (FB) Resistance, pivot & Support Levels - 4/24/2014
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- Facebook (FB) CFO David Ebersman is stepping down on June 1. He'll be succeeded by finance VP and ex-Zynga CFO David Wehner. Ebersman suggests he's taking a position in the healthcare industry.
- Mobile ad sales rose another 19% Q/Q in Q1 (they rose 41% Q/Q in Q4) and made up 59% of ad revenue, up from 53% in Q4 and 49% in Q3. Total ad revenue rose 82% Y/Y to $2.27B, up from 76% in Q4 and 66% in Q3. Payments/other revenue totaled $237M.
- Monthly active users (MAUs) +4% Q/Q and +15% Y/Y to 1.28B. Mobile MAUs +7% Q/Q and +34% Y/Y to 1.01B. DAUs +6% Q/Q and +21% Y/Y to 802M - the fact DAUs grew faster than MAUs points to improving engagement.
- Costs/expenses rose 26% Y/Y to $1.13B, down from +37% in Q4. Capex totaled $363M, and free cash flow $922M (above net income of $885M).
- Q1 results, PR, slides
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