Facebook reported its revenue in the second quarter rose 38% year-on-year to 13.2 billion US dollars, on a constant currency basis. Noting that total revenue growth rate decelerated approximately seven percentage points in the second quarter compared with the first quarter, CFO David Wehner forecast that revenue growth rates will decline quarter-on-quarter by high single digit percentages in both the third and fourth quarters.
"There are several factors contributing to that deceleration," he said. "For example, we expect currency to be a slight headwind in the second half versus the tailwinds we have experienced over the last several quarters. We plan to grow and promote certain engaging experiences like Stories that currently have lower levels of monetisation. We are also giving people who use our services more choices around data privacy which may have an impact on our revenue growth."
However, Facebook did say that 2.5 billion people worldwide used one of its applications in June. "This is our best estimate of our de-duplicated audience across Facebook, Instagram, Messenger, and WhatsApp," added Wehner. "We believe this number better reflects the size of our community and the fact that many people are using more than one of these services." Source: Facebook earnings call transcript
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