Guillermo Gutierrez/Bloomberg via Getty Images

The company posted $12.97 billion in revenue and $2.21 earnings per share (before factoring a deduction from the tax bill), compared to $12.55 billion in revenue and $1.95 earnings per share expected, per Yahoo Finance. User growth slowed, but was still up 14% year-over-year.

Why it matters: The tech giant grew its revenue to nearly $13 billion — an all-time-high — despite slowed ad load due News Feed saturation and election meddling drama last quarter. Facebook's profit was affected by tax changes, which likely caused initial unrest on Wall Street. Facebook stock was down briefly before the company's earnings call.

Time spent on Facebook has decreased. Facebook says this is a result of strategic changes to its News Feed to promote more meaningful engagement.

Facebook’s daily active user count fell in North America for the first time ever from 185 million DAUs in Q4 to 184 million DAUs in Q1.

  • User growth overall slowed compared to previous quarters. but was up 14% YOY overall in both the daily and monthly active user categories.
  • North America is by far Facebook's most lucrative ad market. Users in North America drive $26.76 revenue per user compared to $6.18 elsewhere around the world. Facebook's CFO David Wehner says the company doesn't see this as an ongoing trend.

Mobile ad revenue continues to become a larger part of Facebook's total ad revenue:

  • Facebook mobile ad revenue in 2011: 0%
  • Facebook mobile ad revenue in 2017: 89%

News Feed saturation and algorithm changes continue to impact Facebook's ad inventory.

  • Ad impressions served YOY in Q4 2017: 4% increase
  • Ad impressions served YOY in Q3 2017: 10% increase
  • * Includes both Feeds on Facebook and Instagram.
  • Facebook COO Cheryl Sandberg says ads with stories on Instagram were a small but growing part of Facebook's revenue.

Whatsapp continues to explode:

  • The app now has 1.5 billion monthly active users, sending more than than 60 billion messages per day.
  • A focus on messaging between users and businesses prompted the creation of the Whatsapp Business app.

Go deeper

Deadly Hurricane Zeta lashes Alabama after Louisiana landfall

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta has killed at least one person after a downed power line electrocuted a 55-year-old in Louisiana as the storm moved into Alabama overnight.

What's happening: After "battering southeastern Louisiana and southern Mississippi," it began lashing Alabama late Wednesday, per the National Hurricane Center.

54 mins ago - World

Taiwan reaches a record 200 days with no local coronavirus cases

Catholics go through containment protocols including body-temperature measurement and hands-sanitisation before entering the Saint Christopher Parish Church, Taipei City, Taiwan, in July. Photo: Ceng Shou Yi/NurPhoto via Getty Images

Taiwan on Thursday marked no locally transmitted coronavirus cases for 200 days, as the island of 23 million people's total number of infections reported stands at 550 and the COVID-19 death toll at seven.

Why it matters: Nowhere else in the world has reached such a milestone. While COVID-19 cases surge across the U.S. and Europe, Taiwan's last locally transmitted case was on April 12. Experts credit tightly regulated travel, early border closure, "rigorous contact tracing, technology-enforced quarantine and universal mask wearing," along with the island state's previous experience with the SARS virus, per Bloomberg.

Go deeper: As Taiwan's profile rises, so does risk of conflict with China

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Fauci says U.S. may not return to normal until 2022 — Trump's testing czar: Surge "is real" and not just caused by more tests Some coronavirus survivors have "autoantibodies."
  3. Business: Consumer confidence sinking Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.