Facebook Earnings: FB Stock Wafts Higher as Q2 DAUs, MAUs Meet Outlook

Facebook (NASDAQ:FB) reported its latest quarterly earnings figures late today, amassing a profit and revenue that is better than what analysts called for, lifting FB stock more than 1% after hours.

Facebook Earnings
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The social media giant posted second-quarterly earnings of $1.99 cents per share, which is stronger than the $1.88 per share that the Wall Street consensus estimate called for, per Refinitiv. The business — which owns Instagram and WhatsApp — raked in revenue of $16.9 billion for the period, also topping the $16.5 billion that Refinitiv projected, while also increasing 28% year-over-year.

Facebook added that for the three-month period that cemented the midpoint of its 2019, it tallied in 1.59 billion daily active users (DAUs), in line with the FactSet forecast. Its monthly active users (MAUs) amount came in at 2.41 billion, also meeting the FactSet guidance.

The social media network’s average revenue per user arrived at $7.05 per share, topping the $6.87 per share that FactSet predicted, while also gaining 18% year-over-year. Facebook also reached a $5 billion settlement with the Federal Trade Commission on Wednesday in relation to the 2018 Cambridge Analytica data breach that revealed the information of 87 million Facebook users.

The business also said it has more than 2.7 billion monthly users across its multiple apps.

FB stock is up about 1.9% after hours following the company’s quarterly earnings results. Shares had been gaining 1.1% during regular trading hours.

Article printed from InvestorPlace Media, https://investorplace.com/2019/07/facebook-earnings-fb-stock-5/.

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