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FACEBOOK

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AGGRESSIVE

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20092010201120122013201420152016

.

Revenue$777$1,974$3,711$5,567$8,350$12,525$18,787$28,180

.

Y/Y Change154%88%50%50%50%50%50%

.

.

PF Op. Income$289$1,053$1,974$2,783$4,175$6,262$9,393$14,090

.

Margin37%53%53%50%50%50%50%50%

.

.

Tax$25$402$695$974$1,461$2,192$3,288$4,932

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%35%35%35%35%35%

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.

Net Income$1,279$1,809$2,714$4,071$6,106$9,159

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Margin

.

.

EPS$0.47$0.66$0.97$1.40$2.04$2.86

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Shares Outstanding2,7002,7502,8002,9003,0003,200

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LIKELY

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20092010201120122013201420152016

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Revenue$777$1,974$3,711$5,195$7,014$9,118$11,853$15,409

.

Y/Y Change154%88%40%35%30%30%30%

.

.

PF Op. Income$289$1,053$1,974$2,598$3,156$3,647$4,741$6,164

.

Margin37%53%53%50%45%40%40%40%

.

.

Tax$25$402$695$909$1,105$1,277$1,659$2,157

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%35%35%35%35%35%

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.

Net Income$1,279$1,689$2,052$2,371$3,082$4,006

.

Margin

.

.

EPS$0.47$0.61$0.73$0.82$1.03$1.25

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Shares Outsanding2,7002,7502,8002,9003,0003,200

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WALL STREET

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20092010201120122013201420152016

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Revenue$777$1,974$3,711$4,824$6,272$8,153$10,599$13,779

.

Y/Y Change154%88%30%30%30%30%30%

.

.

PF Op. Income$289$1,053$1,974$2,412$2,822$3,261$4,240$5,511

.

Margin37%53%53%50%45%40%40%40%

.

.

Tax$25$402$695$844$988$1,141$1,484$1,929

.

%35%35%35%35%35%

.

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Net Income$1,279$1,568$1,834$2,120$2,756$3,582

.

Margin

.

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EPS$0.47$0.57$0.66$0.73$0.92$1.12

.

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Shares Outsanding2,7002,7502,8002,9003,0003,200

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FACEBOOK

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QUARTERS

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Mar-10Jun-10Sep-10Dec-10Mar-11Jun-11Sep-11Dec-11Mar-12Jun-12Sep-12Dec-12

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Ad Revenue$340$424$450$655$637$776$798$943$872$1,032$1,037$1,179

.

Y/Y Change87%83%77%44%37%33%30%25%

.

Q/Q Change25%6%46%-3%22%3%18%-8%18%1%14%

.

Payments Revenue$5$8$17$76$94$119$156$188$186$190$200$210

.

Y/Y Change1780%1388%818%147%98%60%28%12%

.

Q/Q Change60%113%347%24%27%31%21%-1%2%5%5%

.

.

Total Revenue$345$432$467$731$731$895$954$1,131$1,058$1,222$1,237$1,389

.

Y/Y Change112%107%104%55%45%37%30%23%

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Q/Q Change25%8%57%0%22%7%19%-6%16%1%12%

.

.

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$4906.23

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$557$786