Facebook, Inc. (NASDAQ: FB) released its most recent quarterly results after the closing bell on Wednesday. The social media giant said that it had $3.30 in earnings per share (EPS) on $26.17 billion in revenue. Analysts were calling for $2.37 in EPS and $23.67 billion in revenue. The first quarter from last year had $1.71 in EPS and $17.74 billion in revenue.
During the quarter, daily active users totaled 1.88 billion on average for March 2021, an increase of 8% year over year. At the same time, monthly active users increased by 10% to 2.85 billion.
Family daily active people (DAP) increased 15% year over year to 2.72 billion, while family monthly active people (MAP) increased 15% to 3.45 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 97% of advertising revenue for the first quarter of 2021, relatively the same level from the first quarter last year.
Facebook was vague on its outlook for the second quarter. The CFO said that Facebook expects second quarter 2021 year-over-year total revenue growth to remain stable or modestly accelerate relative to the growth rate in the first quarter of 2021. . However, analysts are calling for $2.52 in EPS and $25.38 billion in revenue for the coming quarter.
On the books, cash, cash equivalents, and marketable securities totaled $64.2 billion at the end of the quarter, versus $61.9 billion at the end of the previous fiscal year.
Facebook stock closed Wednesday at $307.10, with a 52-week range of $190.00 to $315.88. Analysts have a consensus price target of $341.67. Following the announcement, the stock was trading up over 5% at $323.67 in the after-hours session.
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