Q1 2020 Facebook Results (FB)

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Attendees walk past a Facebook logo at the Facebook F8 Developer Conference in San Jose, California on April 30, 2019.

Stephen Lam | Reuters

Facebook shares rose more than 10% in after-hours trading on Wednesday after the company announced its first quarter results.

  • Earnings (EPS): $ 1.71
  • Returned: $ 17.74 billion
  • Daily Active Users (DAU): 1.73 billion
  • Monthly active users (MAU): 2.6 billion
  • Average revenue per user (ARPU): $ 6.95

Analysts polled by Refinitiv forecast $ 1.75 in earnings per share and $ 17.41 billion in revenue for the first quarter. However, comparing Facebook’s results to analysts’ estimates is not straightforward given the impact of the coronavirus pandemic on economies around the world.

Facebook said it is now seeing signs of stabilization after seeing an initial sharp drop in ad revenue in March due to Covid-19. Initial data for April looks more promising, the company said. This echoes what Google said Tuesday it saw in its own advertising business.

The company’s revenue was $ 17.74 billion, up almost 18% from the $ 15.08 billion announced by the company in the first quarter of 2019.

Facebook said it had 2.99 billion users per month in its app family, up from 2.89 billion in the previous quarter. This metric is used to measure the total user base of Facebook on its main application, Instagram, Messenger and WhatsApp.

In the United States and Canada, the Facebook user base grew to 195 million active users a day, down from 190 million a quarter earlier. Its user base in Europe grew to 305 million from 294 million daily active users in the previous quarter.

Facebook’s “Other” revenue was 297 million for the quarter, up 80% from last year. This includes sales of Oculus virtual reality headsets and the Portal TV video chat device, which were sold on the website of Facebook and retailers like Best Buy in March.

The company reported cash and cash equivalents at $ 60.29 billion.

This is a developing story.

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