Facebook reports 26% jump in Q1 revenue
Facebook (NASDAQ: FB) reported first-quarter earnings of 85 cents per share, down 50% year-over-year. The earnings take into account a one-time legal expense, excluding which, the bottom line would have been $1.89 per share.
Analysts had expected just $1.65 per share, predicting that the higher expenses required to establish better privacy security would weigh on its bottom line.
The one-time costs were associated with the inquiry of the Federal Trade Commission into Facebook’s user data practices. The social media giant estimates the range of loss in this matter between $3 billion and $5 billion.
Total revenue jumped 26% to $15.08 billion, surpassing analysts’ expectation of $14.96 billion.
Earnings Calendar:
https://alphastreet.com/symbol/FB/earnings-calendar
Earnings Calls:
https://alphastreet.com/symbol/FB/earnings-calls
Earnings Transcripts:
https://alphastreet.com/symbol/FB/earnings-call-transcripts
SEC Filings:
https://alphastreet.com/symbol/FB/sec-filings
