Investing.com - Facebook (NASDAQ:FB) reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Facebook announced earnings per share of $1.71 on revenue of $17.74B. Analysts polled by Investing.com anticipated EPS of $1.75 on revenue of $17.42B. That with comparison to EPS of $1.89 on revenue of $15.08B in the same period a year before.Facebook had reported EPS of $2.56 on revenue of $21.08B in the previous quarter.Analysts are expecting EPS of $1.48 and revenue of $16.93B in the upcoming quarter.
Facebook shares are down 5% from the beginning of the year and are trading at $202.00 , down-from-52-week-high.They are outperforming the S&P 500 which is down 9.43% year to date.
Facebook shares gained 4.13% in after-hours trade following the report.
Facebook follows other major Technology sector earnings this month
Facebook's report follows an earnings beat by Microsoft on Wednesday, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.29 on revenue of $33.99B.
Alphabet C had missed expectations on Tuesday with first quarter EPS of $9.87 on revenue of $41.16B, compared to forecast for EPS of $10.26 on revenue of $40.99B.
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