Facebook earnings (NASDAQ:FB) is up more than 2% on Tuesday as the company reported its latest quarterly earnings results late in the day, bringing in profit that surpassed what analysts were calling for, while the company’s revenue was below analysts’ expectations.
The social media site said that for its third quarter of fiscal 2018, it brought in adjusted earnings of $1.76 per share, which is stronger than the $1.47 per share that analysts were calling for, according to data compiled by Refinitiv.
Facebook added that for the period, it raked in revenue of $13.73 billion, which is lower than the $13.78 billion that analysts were calling for, according to Refinitiv. Plus, its daily active users rose to 1.49 billion for the quarter, which is below the 1.51 billion that Wall Street called for, according to FactSet and StreetAccount.
The company said that its monthly active users rose to 2.27 billion, below the 2.29 billion that analysts were calling for, according to FactSet and StreetAccount. Facebook said that for its third quarter, its average revenue per user came in at $6.09, which is in line with the $6.09 that analysts were calling for, according to StreetAccount.
FB stock surged about 2.9% during regular trading hours and surged an additional 2% after the bell as the company reported its latest quarterly earnings results following the ring of the bell.