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Photo illustration: Jaap Arriens/NurPhoto via Getty Images

Facebook's stock was down slightly in after-hours trading Tuesday after the company blew past investor expectations for earnings, but missed on user growth and revenue.

Why it matters: The company advised last quarter that revenue growth rates would decline by high single digit percentages from prior quarters. Revenue was up 33% year over year.

By the numbers, via CNBC:

  • Earnings per share (EPS): $1.76 vs $1.47 estimated, per Refinitiv
  • Revenue: $13.73 billion vs. $13.78 billion estimated, per Refinitiv
  • Estimated daily active users (DAUs): 1.49 billion vs. 1.51 billion estimated, according to FactSet and StreetAccount
  • Monthly active users (MAUs): 2.27 billion vs. 2.29 billion estimated, according to FactSet and StreetAccount
  • Average revenue per user: $6.09 vs. $6.09 estimated, per 2.29 billion, according to Street Account

New: Just as it did last quarter when it shared that 2.5 billion people use at least one of its app every month, Facebook revealed this quarter that 2 billion people use at least one of its apps every day. The monthly user number is now 2.6 billion, it said on Tuesday.

Between the lines:

  • Ad revenue continues to migrate to mobile, with 92% of Facebook's total ad revenue now coming from mobile.

Go deeper

Cold December as safety nets expire

Illustration: Sarah Grillo/Axios

Safety nets are likely to be yanked from underneath millions of vulnerable Americans in December, as the coronavirus surges.

Why it matters: Those most at risk are depending on one or more relief programs that are set to expire, right as the economic recovery becomes more fragile than it's been in months.

14 hours ago - Health

Food banks feel the strain without holiday volunteers

People wait in line at Food Bank Community Kitchen on Nov. 25 in New York City. Photo: Michael Loccisano/Getty Images for Food Bank For New York City

America's food banks are sounding the alarm during this unprecedented holiday season.

The big picture: Soup kitchens and charities, usually brimming with holiday volunteers, are getting far less help.

17 hours ago - Health

AstraZeneca CEO: "We need to do an additional study" on COVID vaccine

Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

AstraZeneca CEO Pascal Soriot said on Thursday the company is likely to start a new global trial to measure how effective its coronavirus vaccine is, Bloomberg reports.

Why it matters: Following Phase 3 trials, Oxford and AstraZeneca said their vaccine was 90% effective in people who got a half dose followed by a full dose, and 62% effective in people who got two full doses.

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