Facebook shares rose +5% after-hours trading on Wednesday, as the social media behemoth beat first-quarter earnings expectations.
The company’s net income came in at $3.30 per share, compared with $2.37 per share expected by analysts polled by Refinitiv. Earnings were $1.71 per share in the year-ago quarter.
Revenue surged +48% year-over-year to $26.17 billion in the quarter, vs. $23.67 billion expected by analysts.
Daily active users (DAUs) of 1.88 billion was close to the 1.89 billion forecast (based on FactSet data). Monthly active users (MAUs) was 2.85 billion vs. 2.86 billion forecast by FactSet. Average revenue per user (ARPU) came in at $9.27 vs. $8.40 forecast by FactSet.
Advertising revenue was $25.44 billion, soaring +46% year-over-year, on the back of a +30% year-over-year increase in the average price per ad and a +12% rise in the number of ads delivered.