Facebook soars in Q1, beats estimates

Mobile ads and solid user growth across its suite of apps contributed to a strong first quarter for Facebook.



For the quarter ended March 31, revenue rose 49% to $8.03 billion, from $5.38 billion in the same period a year earlier. This surpassed analyst predictions of $7.83 billion. Based on this quarter’s earnings, Facebook has exceeded analyst expectations for eight straight quarters.



Mobile advertising revenue represented approximately 85% of advertis-ing revenue for the first quarter of 2017, up from approximately 82% of advertising revenue in the first quarter of 2016.



Facebook’s daily active users (DAUs) were 1.28 billion, an increase of 18% year-over-year. Similarly, monthly active users (MAUs) were 1.94 billion, an increase of 17% year-over-year.



The company reported that it is no longer reporting non-GAAP expenses, income, tax rate, and earnings per share (EPS).



"We had a good start to 2017," said Mark Zuckerberg, Facebook founder and CEO. "We're continuing to build tools to support a strong global community.”