Social media giant Facebook (NASDAQ: FB) reported first-quarter 2020 financial results after the regular trading hours on Wednesday. In Q1, EPS missed street estimates my 3 cents even as revenues came in better-than-expected
DAU grew 11%, while MAU jumped 10% during the quarter.
The company said it expects user engagement to decline slightly once the shelter-in-place order is removed. The company added that Advertising revenues are stabilizing after steep declines in March.
Facebook shares gained over 9% immediately following the announcement. The stock is almost flat in the trailing 12-month period.