Morning News Leader: Facebook (FB) Soars on Q1 Earnings and Revenue Beats
Facebook, Inc. (FB) is up 6.9% Thursday morning following Wednesday night’s first-quarter earnings report. The social media leader posted adjusted Q1 earnings of $1.89 per share on revenue of $15.08 billion. Analysts expected the company to post earnings of $1.66 on sales of $14.97 billion. Facebook now boasts a network of 2.7 billion active monthly users.
Facebook, Inc. (FB) is a social media company.
Microsoft Corporation (MSFT) and Lam Research Corporation (LRCX) top the list of other companies with positive news today, while Xilinx, Inc. (XLNX) and 3M Company (MMM) top the list of companies with negative news.
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About Facebook Inc.
Facebook is the world's largest online social network, with more than 2 billion monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos. On the video side, the firm is in the process of building a library of premium content and monetizing it via ads or subscription revenue. Facebook refers to this as Facebook Watch. The firm's ecosystem consists mainly of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. Users can access Facebook on mobile devices and desktop. Advertising revenue represents more than 90% of the firm's total revenue, with 50% coming from the U.S. and Canada, and 25% from Europe. With gross margins above 80%, Facebook operates at a 40%-plus margin.