Facebook Inc. (FB - Free Report) just released its latest quarterly financial results, posting earnings of $1.69 per share and total revenues of $11.97 billion.
Currently, FB is a Zacks Rank #3 (Hold), but that could change based on today’s results. Estimates have decreased by eight cents for the current year over the last two months, and the Zacks Consensus sits at $7.11 per share.
Shares of the internet giant have increased around 9.6% in the last year and closed flat. The stock is up over 5% in after-hours trading shortly after the earnings report was released.
Beat earnings estimates. The company reported earnings of $1.69 per share, topping the Zacks Consensus Estimate of $1.36 per share.
Beat revenue estimates. The company saw revenues of $11.97 billion, also surpassing our consensus estimate of $11.45 billion and up 49% year-over-year.
Daily active users (DAUs) rose 13% to 1.45 billion, while monthly active users (MAUs) also increased 13% to 2.2 billion.
Taking a look at ad revenues, this metric grew 50% to $11.8 billion from the year-ago period, which clocked in at $7.86 billion. Of this quarter's number, mobile ad revenues comprised 91%, while year-ago mobile ad revenues was 85% of the total.
"Despite facing important challenges, our community and business are off to a strong start in 2018," said Mark Zuckerberg, Facebook founder and CEO. "We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together."
Here’s a graph that looks at Facebook’s recent earnings performance:
Facebook operates a worldwide social networking website Its products for users are free of charge and available on the web, mobile web, and mobile platforms, such as Android and iOS, and its website enables users to connect, share, discover, and communicate with each other. The Facebook platform is a set of tools and application programming interfaces that developers can use to build social apps on Facebook or to integrate their websites with Facebook. The company is headquartered in Menlo Park, California.
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