Facebook-财报数据及PPTQ4-2017-Earnings-Presentation（英文）-2018.1-19页-3mb

Facebook Q4 2017 Results Summary

Core Content Overview

This document provides an overview of Facebook's financial and user metrics for the fourth quarter of 2017. It includes data on Daily Active Users (DAUs), Monthly Active Users (MAUs), revenue, expenses, income from operations, operating margin, effective tax rate, and diluted earnings per share (EPS). Additionally, it discusses the methodology and limitations of the key metrics used to report user activity and financial performance.

Key Metrics

Daily Active Users (DAUs)

• Global DAUs: The DAU percentage remained constant at 66% for the entire period from Q4 2015 to Q4 2017.
• Regions: The document includes DAU data for Rest of World, Asia-Pacific, Europe, and US & Canada.
• Note: DAUs do not include Instagram, WhatsApp, or Oculus users unless they would otherwise qualify based on their other activities on Facebook.

Monthly Active Users (MAUs)

• Global MAUs: The MAU percentage also remained constant at 66% for the same period.
• Regions: MAU data is provided for Rest of World, Asia-Pacific, Europe, and US & Canada.
• Note: MAUs do not include Instagram, WhatsApp, or Oculus users unless they would otherwise qualify based on their other activities on Facebook.

Average Revenue per User (ARPU)

• ARPU: The document includes ARPU data for Worldwide, US & Canada, and Asia-Pacific.
• Revenue Sources: ARPU is calculated based on Payments and Other Fees and Advertising.

Revenue

Revenue by User Geography

• Global Revenue: Data is presented for Rest of World, Asia-Pacific, Europe, and US & Canada.
• Methodology: Revenue is allocated based on the estimated geographic location of users when they perform revenue-generating activities, not the location of the marketer or developer.

Advertising Revenue by User Geography

• Data: Similar to the general revenue by user geography, this section provides data for the same regions.
• Note: The allocation method is based on user location during revenue-generating activities.

Payments & Other Fees Revenue by User Geography

• Data: Includes revenue figures for the same regions.
• Note: The allocation method is based on user location during revenue-generating activities.

Financial Performance

Income from Operations

• Data: Presented in millions of dollars, this section shows the company's operational income.

Operating Margin

• Data: Presented as a percentage, this section shows the operating margin for the period.

Effective Tax Rate

• Data: The effective tax rate for Q4 2017 was 43%, significantly higher than previous quarters due to the 2017 Tax Cuts and Jobs Act.
• Impact: The tax legislation caused a $2.27 billion increase in the provision for income taxes, affecting net income and diluted EPS.
• Diluted EPS: Decreased by $0.77 in both Q4 2017 and full year 2017.

Capital Investments

• Data: Capital investments are presented in millions of dollars, with figures for various periods.
• Note: The document includes two images related to capital investments, though no specific numerical data is provided in the text.

Free Cash Flow (FCF)

• Reconciliation Table:
  • Net Cash Provided by Operating Activities: Increased from $3,393 million in Q4 2015 to $7,670 million in Q4 2017.
  • Purchases of Property and Equipment: Increased from $692 million in Q4 2015 to $2,262 million in Q4 2017.
  • Free Cash Flow: Increased from $2,701 million in Q4 2015 to $5,408 million in Q4 2017.

Limitations of FCF

• Non-GAAP Measure: FCF is a non-GAAP financial measure and should not be considered in isolation.
• Limitations: It does not reflect future contractual commitments and may vary in how it is presented by other companies.

Limitations of Key Metrics

DAUs and MAUs

• Duplicate Accounts: Estimated to represent 10% of worldwide MAUs in Q4 2017.
• False Accounts: Estimated to represent 3–4% of worldwide MAUs in Q4 2017.
• Methodology: These estimates are based on internal reviews of limited samples and significant judgment.
• Variability: Estimates may change due to methodology improvements or technical errors.

User Age Data

• Reliability: User-provided age data is unreliable, as a disproportionate number of younger users register with inaccurate ages.

Geographic Location Estimation

• Methodology: Based on IP address and self-disclosed location.
• Accuracy: May not always reflect the actual location of users due to proxy servers or misreporting.

Conclusion

• The document highlights Facebook's user and financial performance in Q4 2017.
• It emphasizes the methodological challenges in measuring user activity and financial metrics.
• The 2017 Tax Cuts and Jobs Act had a significant impact on the company's tax provisions and financial results.
• Facebook aims to improve the accuracy of its user metrics and disclose estimates of duplicate and false accounts annually.