Facebook, Sirius XM Second Quarter Financials Roll Out

facebookFacebook has reported positive financials for this second quarter ending June 30, 2013. Revenue for the social company totaled $1.81 billion, an increase of 53 percent compared to $1.18 billion in last year’s period.

Advertising revenue represents 88 percent of the total at $1.60 billion, a 61 percent increase on the period from last year. Significantly, mobile advertising was responsible for 41% of this growth after debuting just last spring.

Reportings reflected positively in company stock, which jumped $7.49, to $33.53 this morning (July 25). The stock price has remained down from the original $38.00 offering shortly after the company went public in May 2012.

Also included in the report were user figures. Mobile users surpassed desktop users, leading a 51 percent increase in monthly totals, averaging 469 million a day through June. Total daily active user totals increased 27 percent year-over-year at 699 million.

During the period, the company launched products including Verified Pages, hashtags, embedded posts, and video for Instagram, which saw 5 million videos uploaded in the first 24 hours.

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SIRIUS XM RADIO LOGOSirius XM reported record revenue and subscriber totals during the second quarter, which led the company to raise full year EBITDA guidance to $1.14 billion, echoing a previous subscriber report that influenced a 1.5 million growth guidance projection from 1.4 million for the year.

Total paid subscribers surpassed 25 million, a 9 percent positive change over the prior year’s period.

For company earning, $940 million in revenue was brought in, up 12 percent from the same period last year. Net income reports $126 million this quarter, up from the previous period, adjusted from a $3 billion income tax reversal in 2012.

“During the second quarter, we repurchased 195 million shares of our common stock for $650 million,” noted David Frear, SiriusXM’s EVP and CFO. “We also repurchased approximately $130 million in principal amount of our outstanding debt during the second quarter. Following our $1 billion debt issuance in May, the Company’s outstanding debt was approximately 3.2x our trailing adjusted EBITDA, below our target leverage of 3.5x.”

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Eric T. Parker oversees operations and contributes editorial for MusicRow's print magazine, MusicRow.com, the RowFax tip sheet and the MusicRow CountryBreakout chart. He also facilitates annual events for the enterprise, including MusicRow Awards, CountryBreakout Awards and the Rising Women on the Row. eparker@musicrow.com | @EricTParker

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