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Results Reinforce Facebook's Dominance in Social Media

With 2 billion monthly average users and revenue growing at 45% year over year in the quarter, we're raising our fair value estimate for the company.

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Facebook's excellent second-quarter results have reinforced our view that firm is the dominant social network player, and is one of the leaders in the digital ad market.

Second-quarter total revenue grew 45% year over year to $9.3 billion. Ad dollars keep coming to Facebook as the firm reported ad revenue of $9.2 billion during the quarter, up 47% over the prior year.

Ali Mogharabi does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.