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Company News: Facebook (FB) quarterly revenues beat analysts’ forecast
Facebook (FB) reported Q1 FY 2020 earnings of $1.71 per share (versus $1.89 per share in Q1 FY 2019), in line with analysts' consensus estimate.
The company's quarterly revenues amounted to $17.737 bln (+17.6% y/y), beating analysts' consensus estimate of $17.251 bln.
The company's DAUs were 1.73 billion on average for March 2020, a gain of 11% y/y, while its MAUs were 2.60 billion as of March 31, 2020, an advance of 10% y/y.
Facebook did not provide specific revenue guidance due to the uncertainties revolving around COVID-19 and its economic impact. However, the company noted that it had seen signs of stability during the first three weeks of April, where revenue had been approximately flat y/y, down from the 17% y/y growth in Q1 FY 2020.
FB rose to $212.60 (+9.48%) in pre-market trading.
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