Peak Facebook Inc (FB)?

April 23, 2015 by

facebookTyler Durden: Remember MySpace? No? You are not the only one: apparently nobody else does (even though it did sell for a token price to a greater fool).

 

What about Friendster? Also no? Hardly surprising either.

 

Of course, both of these social networks are dead and buried, with Facebook gleefully dancing on their grave, a Facebook Inc (NASDAQ:FB), or rather FB, which went public on May 18, 2012. A curious date we should note, because as we showed on that very day, the underwriters decided to go public just as Google Trends showed interest in Facebook was at its very peak.

 

So, where are we now? It depends who you ask. On one hand, according to the company, and the way it counts eyeballs, pardon Monthly Active Users, things have never been better, with some 1.441 billion MAUs, of which 210 million in just the US and Canada, or more than the entire employed population in those two nations.

 

What about earnings? Well, there too it depends which accountant you ask: one who believes that GAAP earnings matter, and that share-based compensation (whose proceeds are all too real and allow employees to buy any number of GDP-boosting products and services) is actually an item that should be counted toward one’s bottom line. 

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