Facebook Inc (NASDAQ:FB) filed its first quarter 10-Q report with the Securities and Exchange Commission on Friday. The social networking giant’s Q1 results were impressing with $2.5 billion in revenues and 34 cents in earnings, much better than the Wall Street expectations of $2.34 billion in revenues and 24 cents a share in earnings. In its 10-Q filing, Facebook addressed teen usage, fake and duplicate accounts and potential closing dates for its recent acquisitions.
Facebook to close Oculus acquisition in Q2
Facebook Inc (NASDAQ:FB) said it expects to close the $19 billion acquisition of WhatsApp in later 2014. In case the transaction is not finalized by August 19, 2014, the social networking giant will pay WhatApp $1 billion in termination fee and another $1 billion of class-A Facebook shares. But if all the closing conditions are met except for regulatory approvals, the deadline will be moved to August 19, 2015. Meanwhile, the Menlo Park-based company expects to close the purchase of Oculus VR during the second quarter.
The Mark Zuckerberg-led company said that the duplicate accounts (where a user maintains another account in addition to their principal account) represented about 4.3%-7.9% of its global monthly active users in 2013. False accounts, the ones that have been created for purposes that violate Facebook’s terms of service (such as spamming), represented between 1.2%-3.3% of its monthly active users.
Facebook says user-provided data show a decline in teen usage
Facebook Inc (NASDAQ:FB) said the percentage of duplicate or false accounts is significantly lower in developed countries like U.S. and the U.K. But it is relatively higher in developing markets such as India and Turkey. Talking about teen users, Facebook said that its user-provided data show a decline in usage among teen users. But the user-provided age data is unreliable because a large number of young users register on the site with an inaccurate age.
During the third quarter of 2013, Facebook Inc (NASDAQ:FB) worked with several third parties to come up with models that more accurately analyze user data by age. These models showed that the teen usage in the U.S. was stable, but the number of U.S. teens among daily active users (DAUs) had fallen slightly.
Facebook Inc (NASDAQ:FB) shares inched up 0.59% to $56.46 at 9:41 AM EDT on Tuesday.
