Shares of Facebook rose almost 8% after the report
The American company Facebook, which owns the world's largest social network of the same name, published a report for the first quarter. According to the report, all quarterly financial indicators of the company exceeded the forecasts of economists. Annual sales growth was recorded at 48%. The number of active users of the network amounted to 2.85 billion people, an increase of 10% compared to the first three months of the previous year. The experts' forecast assumed this figure at the level of 2.83 billion users.
Quarterly revenue was $26.2 billion, also beating market expectations. Net income for the quarter jumped to $9.5 billion. On a per-share basis, it was $3.3, while economists had expected it to be $2.34. The price for advertising in the social network has increased on average by 30% over the year. The number of ads shown in April increased by 12% year-on-year. After the release of the quarterly reports, Facebook shares on the premarket reached $331.56, having increased in price by almost 8% over the day. Since the beginning of the year, the company's shares have increased by 12%.