Facebook is killing it in the U.S.
Yesterday, Apple CEO Tim Cook spent a lot of time blaming global economic conditions for the company's poor guidance. The stock finished down almost 6% today as a result.
But Facebook just reported earnings that blew expecations away, and the stock rose 7% after hours.
One big difference between the companies?
More of Facebook's revenue still comes from the United States. And it's absolutely cleaning up in its home country.
Here's revenue by region:
U.S. advertising revenue was $2.8 billion, which is very nearly half of Facebook's total ad revenue.
That's an impressive 64% increase from last year in the U.S., which is a touch higher than the 57% increase across all geographies.
Here's average revenue per user by geography. This is even more interesting:
Average ad revenue per user was up 56% in the U.S. - much higher than the 37% total increase across all geographies.
Facebook is a lot smaller than Apple, and it relies on advertisers rather than consumer spending, which insulates it a little better from big economic swings. But the takeaway is that the company is killing it in the US, and that's more than enough to make up for a souring economy worldwide. At least so far.
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