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Q3 2012
Safe Harbor
This presentation contains forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding our estimates of future stock-based compensation expense, are forward-looking statements. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including variations in the future price of our common stock as well as future grants and forfeitures of equity awards. In addition, please note that the date of this presentation is October 23, 2012, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. A reconciliation of non-GAAP financial measures to the corresponding GAAP measures is provided in the appendix to this presentation. Please also see the appendix to this presentation for information concerning limitations of our key user metrics.
955
901 800 739 680 207 845 225 245 268
1,007
288
183
133
138 183 154 Q4'10 156 174
196
212
234
255
277
201
212
221
229
239
246
253
163 Q1'11
169 Q2'11
176 Q3'11
179 Q4'11
183 Q1'12
186 Q2'12
189 Q3'12
Please see Facebook's Form 10-Q for the quarter ended September 30, 2012 for definitions of user activity used to determine the number of our MAUs, DAUs and mobile MAUs. The number of MAUs, DAUs, and mobile MAUs do not include Instagram users unless such users would otherwise qualify as MAUs, DAUs, and mobile MAUs based on activity that is shared back to Facebook. In June 2012, we discovered an error in the algorithm we used to estimate the geographic location of our users that affected our attribution of certain user locations for the first quarter of 2012. The first quarter of 2012 user metrics reflect a reclassification to more correctly attribute users by geographic region.
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552 139
584 152
417
372 327 58 64 107 74 72 120 105 Q1'11
Q1'11 55%
126
87 85 127
100 98
293 54 54 94 92 Q3'10
DAUs / MAUs
Q3'10 53%
105
119
129
141
135
143
152
154
160
99
Q4'10
Q4'10 54%
117 Q2'11
Q2'11 56%
124 Q3'11
Q3'11 57%
126 Q4'11
Q4'11 57%
129 Q1'12
Q1'12 58%
130 Q2'12
Q2'12 58%
132 Q3'12
Q3'12 58%
Please see Facebook's Form 10-Q for the quarter ended September 30, 2012 for definitions of user activity used to determine the number of our MAUs, DAUs and mobile MAUs. The number of MAUs, DAUs, and mobile MAUs do not include Instagram users unless such users would otherwise qualify as MAUs, DAUs, and mobile MAUs based on activity that is shared back to Facebook. For non-worldwide DAU user numbers presented for the periods marked March 31, 2012 and June 30, 2012, the figures represent an average of the first 25 days of the period and the last 27 days of the period, respectively, due to the algorithm error described in the MAU note on slide 3. These average numbers do not meaningfully differ from the average numbers when calculated over a full month.
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Q3'10
Q4'10
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
Please see Facebook's Form 10-Q for the quarter ended September 30, 2012 for definitions of user activity used to determine the number of our MAUs, DAUs and mobile MAUs. The number of MAUs, DAUs, and mobile MAUs do not include Instagram users unless such users would otherwise qualify as MAUs, DAUs, and mobile MAUs based on activity that is shared back to Facebook.
Revenue
Millions of Dollars
Payments and other fees Advertising
$1,262
$176
$954 $156
$188
$731
$94
$119
$776
$798
$943
$872
$992
$1,086
Q3'10
Q4'10
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
$1,262 $1,131 $87 $895 $65 $82 $275 $954 $78 $104 $1,058 $1,184 $113 $135 $154 $130
$115
$87
$118
$731 $43 $58 $467 $25 $37 $134 $412 $271 Q3'10 Q4'10 $218
$361
$290
$346 $328
$341
$394
$471
$482
$567
$525
$590
$637
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform a revenue-generating activity. This allocation differs from our revenue by geography disclosure in our consolidated financial statements where revenue is geographically apportioned based on the location of the advertiser or developer.
$1,086 $943 $79 $776 $798 $61 $74 $245 $872 $79 $95
$992
$104 $115
$120 $133
$450
$71
$88
$99
$306 $294 $274
$295
$245
$260
$359
$332
$394
$395
$462
$419
$479
$538
Q3'10
Q4'10
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform a revenue-generating activity. This allocation differs from our revenue by geography disclosure in our consolidated financial statements where revenue is geographically apportioned based on the location of the advertiser or developer.
$188 $8
$156 $7 $16 $119 $4 $8 $30 $45 $20
$186 $8 $19
$192 $9 $20
$55
$54
$52 $46
$76 $2 $5 $17
$94 $3 $6 $23
$17 $11
$53
$62
$77
$87
$105
$106
$111
$99
Q3'10
Q4'10
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform a revenue-generating activity. This allocation differs from our revenue by geography disclosure in our consolidated financial statements where revenue is geographically apportioned based on the location of the advertiser or developer.
June
Jul
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Q 3 2012
Q 4 2012
Q1 2013
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$1.26 $1.24
$0.90
Q3'10Q4'10Q1'11Q2'11Q3'11Q4'11Q1'12Q2'12Q3'12
Q3'10Q4'10Q1'11Q2'11Q3'11Q4'11Q1'12Q2'12Q3'12
Europe
$1.60 $1.25 $1.19 $0.84 $1.33 $1.34
Asia
$1.40 $1.43 $1.37
$0.36 $0.46 $0.50 $0.43
$0.31
Q3'10Q4'10Q1'11Q2'11Q3'11Q4'11Q1'12Q2'12Q3'12
Q3'10Q4'10Q1'11Q2'11Q3'11Q4'11Q1'12Q2'12Q3'12
Q3'10Q4'10Q1'11Q2'11Q3'11Q4'11Q1'12Q2'12Q3'12
Revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform a revenue-generating activity. This allocation differs from our revenue by geography disclosure in our consolidated financial statements where revenue is geographically apportioned based on the location of the advertiser or developer. The ARPU amount for US & Canada region in Q1 2012 reflects an adjustment based on the reclassification of certain users between geographical regions to more correctly attribute users by geographic region.
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$1,106
$986
$64 $4 Q3'10
~$190
$30 $135
$6
Q4'10
$7
Q1'11
$58 Q2'11
$25
Q4'12E
Q4 2012 expenses are estimates and exclude any potential impact of future acquisitions.
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Expenses as a % of Revenue
Share-based compensation + Payroll tax related to share-based compensation All other expenses
Cost of Revenue
25%
31%
26%
22%
60%
24%
22%
26%
25%
14% 9% 9%
19% 11%
12% 11%
11% 9%
13%
12% 9% 6% 8% 7% 10% 12% 11% 10%
8%
We have reclassified certain prior period amounts in marketing and sales to general and administrative expense to conform to our current period presentation. These reclassifications did not affect revenue, total costs and expenses, income (loss) from operations, or net (loss) income.
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Q3'10
Q4'10
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
$(743) Q2'12
Q3'12
Operating Margin 46% 60% 53% 45% 43% 48% 36% 30%
(63%) Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12
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Q2 and Q3 effective tax rates were influenced by significant share-based compensation expense resulting from our initial public offering, a portion of which is not tax-deductible. A combination of tax benefits recorded in Q2 and tax provisions in Q1 and Q3 result in an approximately 0% effective tax rate in the year-to-date period.
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$131
$(59)
$(157)
Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12
16
$273
$311
YTD '12
Non-GAAP net income excludes share based compensation expense, payroll tax expenses related to share-based compensation, and related income tax adjustmentssee the Appendix for a reconciliation of this non-GAAP measure to GAAP net income.
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Capital Investments
Millions of Dollars
Property and equipment acquired under capital leases Purchases of property and equipment
$473
$814
$510
$217 $606 $89 $56 $33 2009 $293 2010 Annual 2011
$393 $1,037
$421
YTD'11 YTD
YTD'12
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Employees
Period-end Headcount
4,331
3,200
2,127 1,218
2,958
2009
2010 Annual
2011
YTD'11 YTD
YTD'12
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Appendix
Reconciliations
Three Months Ended September 30, 2011 2012 $ 227 $ (59) 70 179 (31) (24) 222 $ 273 $ 311 Nine Months Ended September 30, 2011 2012 $ 698 $ (11) 141 1,388 7 122 (42) (609) $ 804 $ 890
GAAP net income (loss) Share-based compensation expense Payroll tax expenses related to share-based compensation Income tax adjustments Non-GAAP net income
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