Facebook shares rose more than 8% in after-hours trading on Wednesday after the company announced its first-quarter results.
- Earnings (EPS): $1.71
- Revenue: $17.74 billion
- Daily active users (DAUs): 1.73 billion
- Monthly active users (MAUs): 2.6 billion
- Average revenue per user (ARPU): $6.95
Facebook said it is now seeing signs of stabilization after seeing an initial steep decrease in advertising revenue in March. This echoes what Google on Tuesday said it saw in its own advertising business.
The company’s revenue came in at $17.74 billion, up nearly 18% from the $15.08 billion the company reported in the first quarter of 2019.
Analysts surveyed by Refinitiv expect $1.75 in earnings per share and $17.41 billion in revenue for the first quarter. However, comparing Facebook’s results against analysts’ estimates is not straightforward given the coronavirus pandemic’s impact on economies around the world. (CNBC)
