Facebook Shares Surge After Q1 Revenue Beat; Sees April Ad Sales Stability Amid Coronavirus Lockdowns [TheStreet.com]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: TheStreet.com
Facebook Inc(FBGet ReportFacebook said total revenues for the three months ending in March rose 18% to a larger-than-expected tally of $17.7 billion, while ad sales were pegged 17% higher from last year at $17.44 billion. Facebook's bottom line of $1.71 per share was 6 cents shy of Street forecasts, and down 9.5% from the same period last yearLockdown orders around the world, which have affected an estimated 90% of the global economy, helped boost Facebook's daily active user count by 11%, to 1.73 billion, the company said. with monthly active users at 2.6 billion,Facebook CEO Mark Zuckerberg, however, cautioned that some of that engagement will fall away once lockdown restrictions are eased, while his colleagues noted that "increasing uncertainty" in the business outlook means it won't be able to provide a revenue forecast for the current quarter."There is a tremendous amount of macro uncertainty, so it's difficult to extrapolate performance based on a small sample of data," CEO Davi
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