Facebook is surging after crushing on earnings and adding more users than expected (FB)

pulse

April 25, 2018 9:43 PM

Facebook blew past Wall Street's expectations on almost every key metric in the first quarter.

Shares spiked in after-market trading.

Facebook shares are up 5% in after-market trading Wednesday, to above $167 a share, after the company reported better-than-expected first-quarter earnings.

Facebook reported earnings-per-share of $1.69, up 63% year-over-year and above Wall Street's expected $1.35. Revenue was $11.97 billion, up 49% year-over-year, and also beating estimates of $11.4 billion.

Daily active users came in at 1.45 billion, in line with analyst estimates of 1.45 billion. But monthly active users came in at 2.2 billion, beating estimates of 2.19 billion.

Facebook is now down about 8% so far this year.

pulse