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.
Peer Analysis
Most Popular
Novavax (NVAX) stock tumbles despite beating bottom line estimates in Q2
After Novavax (NASDAQ: NVAX) reported its progress on developing the COVID-19 vaccine at the end of February, the shares of the company started trading in double-digits after a long time.
During tough times, Tilray (TLRY) looks overseas to achieve growth targets
Cannabis was recognized as an essential business in several markets when the shutdown came into effect, including Canada and some US states, at a time when its legalization is getting
Eastman Kodak (KODK) swings to a loss in Q2 2020; revenue drops 31%
Eastman Kodak (NYSE: KODK) reported a loss of $5 million on revenue of $213 million in the second quarter of 2020. The company earned $201 million in the prior-year quarter.