Facebook shatters Wall Street estimates

Editor’s note: The internet is changing how we communicate.

“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.”

The rest of the article is here.

Author: jeffpelline

Jeff Pelline is a veteran editor and award-winning journalist - in print and online. He is publisher of Sierra FoodWineArt magazine and its website SierraCulture.com. Jeff covered business and technology for The San Francisco Chronicle for years, was a founding editor and Editor of CNET News, and was Editor of The Union, a 145-year-old newspaper in Grass Valley. Jeff has a bachelor's degree from UC Berkeley and a master's from Northwestern University. His hobbies include sailing and trout fishing.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s