Facebook beats estimates and continues revenue growth
Despite predicting its own slowdown in revenue growth, Facebook beat expectations and posted $8.03 billion in revenue for the first quarter of 2017, a 49% year-over-year bump. It also beat expectations for earnings per share with $1.04, though the company noted that it has changed how it reports earnings.
- Monthly active users: 1.94 billion
- Daily active users: 1.28 billion
- Mobile advertising revenue: 85% of total ad revenue, or $6.7 billion, up from 82% a year ago
Facebook's stock price was down by 1-2% in after hours trading.