By Yasin Ebrahim
Investing.com – Facebook reported Wednesday first-quarter results that topped analysts expectations after racking in advertising revenue.
Facebook Inc (NASDAQ:) rose more 5% in after-hours trade following the news.
Facebook reported Q1 EPS of $3.30 on revenue of $26.17 billion, topping estimates for EPS of $2.33 on revenue of $23.63 billion.
Advertising revenue rose 46%, while other revenues jumped 146% to $732M.
Daily active users (DAUs) rose 8% to 1.88 billion, above expectations for a rise to 189 billion. Monthly active users (MAUs) rose 10% to 2.85 billion, above the 2.86 billion expected.
For Q2, year-over-year total revenue growth is expected to “remain stable or modestly accelerate relative to the growth rate in the first quarter of 2021 as we lap slower growth related to the pandemic during the second quarter of 2020,” CFO David Wehner said.
Looking ahead to the full-year 2021, total expenses were guided in the range of $70 to 73 billion, up from a prior outlook of $68 to $73 billion. “The year-over-year growth in expenses is driven by investments in technical and product talent, infrastructure, and consumer hardware-related costs,” Facebook said.
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