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“Tech giant Facebook crushed analyst estimates when it reported first-quarter results on Wednesday,” as CNBC reported.
“The company reported adjusted first quarter earnings of 77 cents per share on revenue of about $5.38 billion. Analysts had expected Facebook to report earnings of about 62 cents per share on $5.26 billion in revenue, according to a consensus estimate from Thomson Reuters.
“In fact, Facebook’s earnings per share figure was 10 percent better than the highest estimate of 41 Wall Street analysts.
“Facebook also said it was proposing the creation of new class C shares. If the proposal is approved, shareholders would get two C shares for each class A or class B share they own.
“Facebook also reported Wednesday that monthly active users, a key metric for the company also known as MAUs, were 1.65 billion at the end of the first quarter. Wall Street had only expected 1.63 billion, according to StreetAccount.”
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