Facebook, Inc. Q1 Earnings, Revenue Top Analysts’ Expectations

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Facebook, Inc. (NASDAQ:FB) reported its latest quarterly earnings results late today, topping analysts’ expectations on its revenue and earnings totals.

Facebook, Inc.

The company announced that it brought in adjusted earnings of $1.69 per share to kick off its fiscal 2018, topping the year-ago total of $1.04 per share. Analysts were calling for the network to bring in adjusted earnings of $1.35 per share, according to data compiled by Thomson Reuters.

Facebook added that its first-quarter revenue was also strong, coming in at $11.97 billion, ahead of the $11.4 billion that the Wall Street consensus estimate called for and beating the year-ago total of $8.03 billion. The social media site managed to recover well from the Cambridge Analytica data scandal as the site still experienced steady engagement.

The company added that its daily active users for the period tallied up to 1.45 billion, in line with the 1.45 billion that analysts polled by StreetAccount projected. Facebook’s monthly active users were also in line with analysts’ guidance at 2.2 billion, per data compiled by StreetAccount.

The site has also been working towards investing its mobile initiatives as its mobile ad revenue made up about 91% of its total revenue. Plus, the company has been hiring more workers as its total headcount was up by 48% compared to the year-ago quarter, coming in at 27,742 by the end of the first quarter.

FB stock gained about 5.5% after the bell Wednesday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/facebook-inc/.

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