Facebook Inc. (NASDAQ: FB) released first-quarter financial results after markets closed Wednesday. The social media giant said that it had $1.71 in earnings per share (EPS) and $17.44 billion in revenue, compared with consensus estimates that called for $1.74 in EPS and $17.48 billion in revenue. The same period of last year had $0.85 in EPS and $15.08 billion in revenue.
During the quarter, daily active users totaled 1.73 billion on average for March 2020, an increase of 11% year over year. At the same time, monthly active users increased by 10% to 2.60 billion.
Family daily active people (DAP) increased 12% year over year to 2.36 billion, while family monthly active people (MAP) increased 11% to 2.99 billion. Note that these “Family” metrics represent estimates of the underlying number of unique people using one or more of Facebook, Instagram, Messenger, and/or WhatsApp.
Mobile advertising revenue represented roughly 98% of advertising revenue for the first quarter of 2019, relatively the same level from the first quarter last year.
Mark Zuckerberg, Facebook founder and CEO, commented:
Our work has always been about helping you stay connected with the people you care about. With people relying on our services more than ever, we’re focused on keeping people safe, informed and connected.
Shares of Facebook closed Wednesday at $194.19, in a 52-week range of $137.10 to $224.20. The consensus price target is $218.68. Following the announcement, the stock was up 6% at $206.89 in the after-hours trading session.
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.