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Facebook Beats Q1 Earnings, Mobile Ad Revenues Up 82%

Madeleine Johnson

Facebook Inc. FB just released its first quarter fiscal 2017 financial results, posting diluted earnings of $1.04 per share and revenues of $8.03 billion. Currently, FB is a #3 (Hold) on the Zacks Rank, and is down 1.7% to $149.13 per share in trading shortly after its earnings report was released.

Facebook:

Beat earnings estimates. The company posted diluted earnings of $1.04 per share, topping the Zacks Consensus Estimate of 88 cents per share. Net income was $3.064 billion, up 76% from the first quarter of 2016.

Beat revenue estimates. The company saw total revenue figures of $8.032 billion, surpassing our consensus estimate of $7.849 billion and increasing 51% year-over-year. Advertising revenues were $7.857 billion during the quarter.

Facebook reported daily active users (DAUs) of 1.28 billion on average for the first quarter, and increase of 18% year-over-year. Monthly active users (MAUs) were 1.94 billion, gaining 17% year-over-year.

Mobile advertising revenue reflected roughly 85% of total advertising revenue for Q1, up from approximately 82% of ad revenues in the prior year period.

"We had a good start to 2017," said Mark Zuckerberg, Facebook founder and CEO. "We're continuing to build tools to support a strong global community."

Here’s a graph that looks at Facebook’s price, consensus, and EPS surprise:

Facebook, Inc. Price, Consensus and EPS Surprise

Facebook, Inc. Price, Consensus and EPS Surprise | Facebook, Inc. Quote

Facebook Inc. operates a social networking website worldwide. The Company's products for users are free of charge and available on the Web, mobile Web, and mobile platforms, such as Android and iOS. Its website enables users to connect, share, discover, and communicate with each other. The Facebook Platform is a set of tools and application programming interfaces that developers can use to build social apps on Facebook or to integrate their Websites with Facebook. It offers products that enable advertisers and marketers to engage with its users. Facebook Inc. is headquartered in Menlo Park, California.

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