Facebook2018年Q2盈利报告（英文）-2018.7-19页-5mb

Facebook Q2 2018 Results Summary

Core Content Overview

This document provides an overview of Facebook's financial and user metrics for Q2 2018, including Daily Active Users (DAUs), Monthly Active Users (MAUs), revenue, expenses, net income, and other key performance indicators. It also highlights the limitations and methodologies used in calculating these metrics.

Key Metrics and User Data

Daily Active Users (DAUs)

• Global DAU percentage: 66% for all quarters from Q2'16 to Q2'18.
• Geographic breakdown:
  • Rest of World
  • Asia-Pacific
  • Europe
  • US & Canada
• Note: DAUs and MAUs do not include Instagram, WhatsApp, or Oculus users unless they qualify based on other activities on Facebook.

Monthly Active Users (MAUs)

• Global MAU percentage: 66% for all quarters from Q2'16 to Q2'18.
• Geographic breakdown:
  • Rest of World
  • Asia-Pacific
  • Europe
  • US & Canada

Average Revenue per User (ARPU)

• Breakdown:
  • Payments and Other Fees
  • Advertising
• Geographic data:
  • Worldwide
  • US & Canada
  • Asia-Pacific
  • Rest of World

Revenue and Financial Performance

Revenue by User Geography

• Geographic breakdown:
  • Rest of World
  • Asia-Pacific
  • Europe
  • US & Canada
• Note: Revenue is allocated based on the estimated geographic location of users during revenue-generating activities, not billing addresses.

Advertising Revenue by User Geography

• Geographic breakdown:
  • Rest of World
  • Asia-Pacific
  • Europe
  • US & Canada
• Methodology: Same as above.

Payments & Other Fees Revenue by User Geography

• Geographic breakdown:
  • Rest of World
  • Asia-Pacific
  • Europe
  • US & Canada
• Methodology: Same as above.

Revenue Trends

• Q2'18 Revenue: Not explicitly stated in the table but shown in the image.
• Revenue by Geography: Visualized in images, indicating performance across different regions.

Expenses and Profitability

Expenses as a % of Revenue

• Categories:
  • General & Administrative
  • Marketing & Sales
  • Research & Development
  • Cost of Revenue
• Visualized in a chart, showing the proportion of expenses relative to revenue.

Income from Operations

• Visualized in a chart, showing the financial performance in millions.

Operating Margin

• Visualized in a chart, indicating the operating margin.

Effective Tax Rate

• Data:
  • Q2'16: 17%
  • Q3'16: 17%
  • Q4'16: 21%
  • Q1'17: 10%
  • Q2'17: 13%
  • Q3'17: 10%
  • Q4'17: 43%
  • Q1'18: 11%
  • Q2'18: 13%
• Impact of Tax Act: The 2017 Tax Cuts and Jobs Act reduced the U.S. statutory tax rate from 35% to 21%, starting in 2018.

Net Income

• Visualized in a chart, showing net income in millions.

Diluted Earnings Per Share (EPS)

• Visualized in a chart, showing EPS data.

Capital Investments

• Visualized in two charts, showing capital investment figures in millions.

Free Cash Flow (FCF)

• Reconciliation Table:
  • Q2'16 to Q2'18:
    • Net cash provided by operating activities: $3,665 to $6,299 million
    • Purchases of property and equipment: $995 to $3,459 million
    • Free Cash Flow: $2,670 to $2,840 million
• Limitations of FCF:
  • Does not reflect future contractual commitments.
  • Not intended to represent residual cash flow for discretionary spending.
  • May vary based on changes in methodologies or new data signals.

Limitations of Key Metrics and Data

DAUs and MAUs

• Methodology: Calculated using internal data based on user account activity.
• Estimates: May change due to improvements or changes in methodologies.
• Duplicate Accounts: Estimated to be around 10% of worldwide MAUs in Q4'17, possibly higher in developing markets.
• False Accounts: Estimated to be around 3-4% of worldwide MAUs in Q4'17, with spikes in countries like Indonesia, Turkey, and Vietnam.

User Data Accuracy

• Age Data: Unreliable due to inaccurate age registration by younger users.
• Geographic Location: Estimated using IP address and self-disclosed location, which may not reflect actual user location.
• Technical Factors: Susceptible to algorithm or technical errors.

Data Review and Adjustments

• Regular Reviews: Conducted to improve the accuracy of metrics.
• Adjustments: May result in recalculation of historical metrics.
• Annual Disclosure: Estimated duplicate and false account numbers will be disclosed annually.

Comparison with Third Parties

• Methodological Differences: DAU and MAU estimates may differ from those published by third parties.

Conclusion

The document outlines Facebook's Q2 2018 performance in terms of user engagement and financial results. It emphasizes the importance of understanding the limitations of key metrics such as DAUs, MAUs, and ARPU, which are based on internal estimates and may vary due to methodological changes or data inaccuracies. The impact of the 2017 Tax Act on the effective tax rate and net income is highlighted, with a significant reduction in the U.S. statutory tax rate starting in 2018.