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Facebook Surpasses 2.6B Users But Misses Q1 Profit Target On Pandemic Ad Slowdown

Dade Hayes tv video film broadway

08.07.2020 - 05:40

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By Dade Hayes Finance Editor Facebook topped Wall Street estimates for revenue in the first quarter with an 18% gain but missed targets for earnings per share.

Total revenue came in at $17.7 billion, while earnings of $1.71 per share missed analysts’ consensus by three cents. The company said its daily active users rose 11% in March compared with the same month a year ago, reaching 1.73 billion.

Monthly active users as of March 31 totaled 2.6 billion, up 10% from the same point in 2019. Shares in the social media giant have crawled back to their level of nearly two months ago, closing Wednesday trading at $194.19.

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