Facebook, Sirius XM Second Quarter Financials Roll Out

Facebook 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 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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