Facebook's FB second-quarter 2021 earnings of $3.61 per share beat the Zacks Consensus Estimate by 19.1% and surged 100.6% year over year.Revenues of $29.08 billion surpassed the Zacks Consensus Estimate by 4.1% and soared 55.6% year over year. At constant currency (cc), the top line improved 50%.Other revenues surged 35.8% year over year to $497 million.Geographically, Asia-Pacific, Europe, the United States & Canada, and Rest of World (RoW) revenues grew 55.3%, 61.5%, 47.9% and 85.4%, on a year-over-year basis, respectively.Average Revenue per User (ARPU) in Europe, the United States & Canada, Asia-Pacific and RoW grew 56.2%, 45.3%, 39.1% and 71.3%, on a year-over-year basis, respectively. Facebook, Inc. Price, Consensus and EPS Surprise Facebook, Inc. price-consensus-eps-surprise-chart | Facebook, Inc. Quote Facebook’s second-quarter advertising revenues increased 56% year over year (51% at cc) to $28.58 billion.The tech giant’s Asia-Pacific, Europe, the United States & Canada, and RoW advertising revenues grew 55.6%, 63.3%, 47.5% and 85.6%, on a year-over-year basis, respectively.Ad impressions served rose 6% and average price per ad increased 47% from the year-ago quarter.User Base Continues to ExpandMonthly active users (MAUs) were 2.895 billion, up 7.2% year over year. Daily Active Users (DAUs) were 1.908 billion, which increased 6.9% year over year and represented 66% of MAUs.Family Daily Active People or DAP, defined as a registered and logged-in user who visited at least one of the Family products (Facebook, Instagram, Messenger and/or WhatsApp) on a given day, were 2.76 billion, up 11.7% year over year.Family Monthly Active People (MAP) increased 11.8% year over year to 3.51 billion.Asia-Pacific DAUs were up 12.7% year over year to 788 million. DAUs in RoW and Europe grew 6% and 0.7% to 618 million and 307 million, respectively. The United States & Canada DAUs declined 1.5% to 195 million.MAUs in Asia-Pacific, RoW, Europe, and the United States & Canada grew 10.8%, 6.6%, 2.4% and 1.2% to 1.27 billion, 951 million, 420 million and 259 million, respectively.Operating DetailsIn the second quarter, total costs and expenses increased 31.3% year over year to $16.71 billion. As percentage of revenues, total costs and expenses were 57.5%, down from the year-ago quarter’s 68.1%.As percentage of revenues, marketing & sales (M&S), and general & administrative expenses (G&A) decreased 400 bps and 180 bps, on a year-over-year basis, respectively. Moreover, research & development (R&D) expenses decreased 290 bps from the year-ago quarter.Facebook’s employee base was 63,404 at the end of the second quarter, up 21% year over year.Operating income of $12.37 billion surged 107.4% year over year. Operating margin was 42.5% compared with 31.9% in the year-ago quarter.Balance Sheet & Cash FlowAs of Jun 30, 2021, cash & cash equivalents and marketable securities were $64.08 billion compared with $64.22 billion as of Mar 31, 2021.Capital expenditures were $4.74 billion in the second quarter compared with $4.82 billion in the previous quarter. Free cash flow was $8.51 billion compared with $7.82 billion reported in the previous quarter.GuidanceFacebook expects revenue growth rate for the third and fourth quarters of 2021 to decelerate significantly on a sequential basis.The company expects changes made in iOS 14.5 update to limit its ability to track user-activity trend.Facebook anticipates total expenses for the current year to be between $70 billion and $73 billion.In the ongoing year, Facebook expects capital expenditures between $19 billion and $21 billion, driven by higher spending on data centers, servers, network infrastructure and office facilities.Zacks Rank & Stocks to ConsiderCurrently, Facebook has a Zacks Rank #3 (Hold).Better-ranked stocks in the broader technology sector include Avnet AVT, CyberArk Software CYBR and Bruker BRKR. While Avnet sports a Zacks Rank #1 (Strong Buy), both CyberArk and Bruker carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Bruker, Avnet and CyberArk are set to report their earnings results on Aug 2, 11 and 12, respectively. 5 Stocks Set to Double Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Avnet, Inc. (AVT): Free Stock Analysis Report Facebook, Inc. (FB): Free Stock Analysis Report Bruker Corporation (BRKR): Free Stock Analysis Report CyberArk Software Ltd. (CYBR): Free Stock Analysis Report To read this article on Zacks.com click here. 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