Facebook Shares Rise After First-quarter Revenue Beat

Shares of Facebook Inc. rose 1% after hours Thursday after the company beat first-quarter revenue expectations. Facebook reported net income of $3.06 billion, or $1.04 per share, up from $1.74 billion, or 60 cents per share. The FactSet GAAP estimate was for 87 cents per share, while the non-GAAP estimate was for $1.12. Revenue was $8.03 billion, up from $5.38 billion and above the FactSet consensus of $7.83 billion. It reported 1.94 billion monthly active users and 1.28 billion daily active users, an increase of 18% and 17% year-over-year respectively. The FactSet consensus was for monthly active users of 1.91 billion and daily active users of 1.256 billion. Shares of Facebook have gained 32% year-to-date, compared to the S&P 500's gain of 6.7%. Facebook said it is no longer reporting non-GAAP numbers.