MENLO PARK, Calif. (AP) -- Facebook Inc. (FB) on Wednesday reported first-quarter earnings of $2.43 billion.
On a per-share basis, the Menlo Park, California-based company said it had net income of 85 cents. The company took a one-time charge of $3 billion as a contingency for a possible fine by the Federal Trade Commission. Without the charge, earnings were $1.89 per share.
The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The social media company posted revenue of $15.08 billion in the period, beating Street forecasts. Twelve analysts surveyed by Zacks expected $14.97 billion.
Facebook shares have risen 39 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. They closed Wednesday at $182.58, a rise of 14% in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FB