After a string of disappointing earning calls with Alphabet, Apple, and Twitter — all missing analysts estimates, we finally have an exception — Facebook, amassing 1.65 Billion users and beating analyst revenue estimates by a significant margin.
Facebook has reported its first quarter 2016 earnings with $5.38 billion in revenue and earnings per share of $0.52. Much of the revenue ($5.2 billion) came from advertising — a 57 percent annual increase — of which 82 percent was through mobile. The social networking company now counts more than 1.65 billion monthly active users.
The company’s financial results beat Wall Street analysts’ expectations, which estimated $5.26 billion in revenue and an EPS of $0.40. In the same period a year ago, Facebook missed expectations with revenue of $3.54 billion and an EPS of $0.42.
Shares in the company closed up 0.12 percent at $108.89. In after-hours trading, the stock is up nearly 9 percent.
Facebook’s revenue may have fallen from last quarter, but it’s still up 40 percent from the previous quarter last year. The average revenue per user (ARPU) for the quarter was $3.32, down from last quarter’s $3.73, but it was an increase from the $2.50 a year ago.
Read more: venturebeat