Facebook, Inc. (NASDAQ: FB) just reported its Q1 2018 earnings results that crushed expectations, and its stock has responded by rising over 3% in the after hours trading session. Here’s a breakdown of some of the key statistics from the report:
|Metric||Q1 2018||Q1 2017||Change|
|Revenue||$11,966 million||$8,032 million||49.0%|
|Income from operations||$5,449 million||$3,327 million||63.8%|
|Net income||$4,988 million||$3,064 million||62.8%|
The consensus estimates called for $11.41 billion in revenue and $1.35 in EPS, so Facebook beat by a wide margin, and it went on to note that it achieved a 13% year-over-year increase in daily active users (DAUs) to 1.45 billion and a 13% year-over-year increase in monthly active users to 2.20 billion.
As mentioned before, Facebook’s stock has responded to the earnings beat by rising more than 4% in the after hours trading session, and it looks like Zuckerberg decided he had something to prove. We will see if the gains hold. but no #deletefacebook in the results.
Keep in mind, before the afterhours pop, Facebook was trading at only 18.2x forward estimated earnings – its lowest multiple EVER.