Meta Platforms, Inc. Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Facebook delivered a strong Q3 2020, driven by heightened digital engagement during the COVID-19 pandemic and continued advertiser demand.
  • Daily active users (DAUs) reached 1.82 billion, up 12% year-over-year, while monthly active users (MAUs) reached 2.74 billion, also up 12% year-over-year.
  • Across Facebook’s family of apps, 2.5 billion people used at least one service daily, and 3.2 billion monthly.
  • More than 200 million businesses now use Facebook’s free tools, and over 10 million businesses advertise each month.

Financial Highlights

  • Total revenue: $21.5 billion, up 22% year-over-year.
  • Ad revenue: $21.2 billion, up 22% year-over-year.
  • Other revenue: $249 million, down 7% due to timing of Quest 2 launch (moved to Q4).
  • Operating income: $8 billion, representing a 37% margin.
  • Net income: $7.8 billion, or $2.71 per share, including a $0.31 EPS tax benefit.
  • Free cash flow: $5.9 billion.
  • Cash and marketable securities: $55.6 billion.
  • Share repurchases: $1.7 billion.

User & Ad Trends

  • Ad impressions rose 35% year-over-year; average price per ad fell 9% due to greater mix of lower‑monetizing regions and Stories ads.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good afternoon. My name is Mike and I will be your conference operator today. At this time, I would like to welcome everyone to the Facebook Third Quarter 2020 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. [Operator Instructions] This call will be recorded. Thank you very much. Ms. Deborah Crawford, Facebook’s Vice President of Investor Relations, you may begin. Deborah Crawford: Thank you. Good afternoon and welcome to Facebook’s third quarter 2020 earnings conference call. Joining me today to discuss our results are Mark Zuckerberg, CEO; Sheryl Sandberg, COO; and Dave Wehner, CFO. Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward‐looking statements. Actual results may differ materially from those contemplated by these forward‐looking statements. Factors that could cause these results to differ materially are set forth in today’s press release, and in our quarterly report on Form 10‐Q filed with the SEC. Any forward‐looking statements that we make on this call are based on assumptions as of today and we undertake no obligation to update these statements as a result of new information or future events. During this call we may present both GAAP and non‐GAAP financial measures. A reconciliation of GAAP to non‐GAAP measures is included in today’s earnings press release. The press re

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional