Below is the transcript of the Facebook Inc (NASDAQ:FB) 2014 Q3 earnings call. Facebook hosted a conference call to discuss its results at 2 p.m. PT / 5 p.m. on Tuesday, October 28, 2014.
Founded in 2004, Facebook Inc (NASDAQ:FB) mission is to give people the power to share and make the world more open and connected. People use Facebook Inc (NASDAQ:FB) to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.
Participants:
Deborah Crawford, IR Contact Officer, Facebook.
Mark Zuckerberg, Chairman of the Board, Chief Executive Officer, Facebook.
Sheryl K. Sandberg, Chief Operating Officer, Director, Facebook.
David B. Fischer,Vice President – Business and Marketing Partnerships, Facebook.
Operator
Good afternoon! My name is Jay and I will be your conference operator today. At this time I would like to welcome everyone to the Facebook’s Q3 Earnings Conference Call. A line has been placed on mute to prevent any background noise. After the speakers’ remarks there will be a Q&A session. If you would like a question during that time please press Start and the number 1 on your telephone key pad. Thank you very much! Miss Deborah Crawford, Facebook President of Investor Relations you may begin.
Deborah Crawford, IR Contact Officer, Facebook
Thank you! Good afternoon and welcome to Facebook’s Q3 Earnings Conference call. Joining me today to talk about the result Mark Zuckerberg – CEO, Sheryl Sandberg – COO and Dave Wehner – CFO. Before we get started I would like to take this opportunity to remind you that our remarks today will include forward looking statements and actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forward in today’s press release and on our quarterly report on form 10 Q filled with the SCC. Any forward looking statements that we make on this call are based on assumptions as if today and we undertake no obligation to update these statements as a result of new information or future events. During this call we will present both gap and non-gap financial measures. A reconciliation of gap to non-gap measures is included in today’s earnings press release. The press release and an accompanying investors’ presentation are available on our website at investor.fb.com. And know I would like to turn the call over to Mark.
Mark Zuckerberg, Chairman of the Board, Chief Executive Officer, Facebook
Thanks, Deborah! And thanks everyone for joining today! This is a good quarter for Facebook and we’ve achieved strong results across the Board. We’ve continued to grow community in both size and engagement with 1.35 billion people now using Facebook each month and 64% using Facebook daily. On mobile 1.12 billion people are now using Facebook each month and 703 million people each day, nearly 40% growth from this time last year. Looking at our business we continue to do well. This quarter total revenue reached 3.2 billion dollars and advertising revenue grew 64% year over year. Mobile now accounts for 66% of our advertising revenue. These results show that Facebook is getting stronger every day as a community, a part of our developers and marketers and as a business. One thing that I am particularly pleased about is that while we are investing aggressively and making progress towards our big long-term goals, we also continued to execute well against our near term priorities. On previous calls you heard me talk about our big company goals, of connecting everyone, understanding the world and building the next generation of platforms. These goals are important for us and are the foundation of our strategy for the next decade. But achieving these will involve many different efforts in steps along the way. Some of that will achieve rapidly and others that are going to take longer. So with that in mind I would like to run through our progress this quarter on the different efforts that we expect to deliver a lot of impact over the next 3, 5 and 10 years. Let’s begin with our 3-year goals.
