Facebook shares spike on better-than-expected quarterly earnings

[{"selector":"#anim-96d7d121-a9b9-4343-ab91-9764f662e412 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.16346144236604%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

[{"selector":"#anim-d9c09330-d2fb-4992-8538-0c91e49c6893 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.062499903291865%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Meta’s earnings per share for the first quarter topped analysts’ estimates.

[{"selector":"#anim-0cdc413f-bc8e-4264-a6c7-63c77c1dcdba [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(33.12499989760315%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Revenue came in below expectations, as did the company’s forecast for the second quarter.

[{"selector":"#anim-23bbd207-a28b-4e47-b7bd-1466c82ab0f3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.070312391203345%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] As of Wednesday’s close, the stock was down almost 50% for the year.

[{"selector":"#anim-a5d47e51-56b1-4810-8f04-13d297f00db6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.062499903291865%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Shares of Facebook parent Meta jumped 18% in extended trading on Wednesday after the company reported earnings that topped estimates even as revenue was disappointing.

[{"selector":"#anim-b738dedc-2c76-4829-83d4-5015d3059f9d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-33.12499989760315%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] – Earnings per share: $2.72 vs $2.56 expected, according to a Refinitiv survey of analysts

[{"selector":"#anim-3102043e-d872-42fc-a88c-6300abc9b2fd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.070312391203345%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] – Revenue: $27.91 billion vs $28.2 billion expected, according to Refinitiv

[{"selector":"#anim-ec1e2e3e-a5e8-4395-b789-d9851dcf85ea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.16346144236604%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] – Daily Active Users (DAUs): 1.96 billion vs 1.95 billion expected, according to StreetAccount

[{"selector":"#anim-f3daa387-c422-475f-a800-80df0b25158e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.062499903291865%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] – Monthly Active Users (MAUs): 2.94 billion vs 2.97 billion expected, according to StreetAccount

[{"selector":"#anim-8bdaaf12-16af-436b-a0af-fe7b939f184a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-33.12499989760315%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] – Average Revenue per User (ARPU): $9.54 vs. $9.50 expected, according to StreetAccount