How Facebook Won Out in Q1

Print Email

Facebook, Inc. (NASDAQ: FB) released first quarter financial results after markets closed Wednesday. The social media giant said that it had $0.85 in earnings per share (EPS) and $15.08 billion in revenue, compared with consensus estimates that called for $1.63 in EPS and $14.97 billion in revenue. The same period from last year had $1.69 in EPS and $11.97 billion in revenue.

During the quarter, daily active users (DAUs) were 1.56 billion on average for March 2019, an increase of 8% year-over-year. At the same time, monthly active users increased by 8% to 2.38 billion.

Mobile advertising revenue represented roughly 93% of advertising revenue for the first quarter of 2019, up from about 91% of advertising revenue in the same period last year.

Additionally, management estimates that more than 2.1 billion people now use Facebook, Instagram, WhatsApp, or Messenger every day on average, and around 2.7 billion people use at least one of this family of services each month.

Mark Zuckerberg, Facebook founder and CEO, commented:

We had a good quarter and our business and community continue to grow. We are focused on building out our privacy-focused vision for the future of social networking, and working collaboratively to address important issues around the internet.

Shares of Facebook closed Wednesday at $182.58, within a 52-week range of $123.02 to $218.62. The stock has a consensus analyst price target of $197.14. Following the announcement, the stock was up 5% at $192.04 in the after-hours trading session.

I'm interested in the Newsletter