On Wednesday (April 29), after the closing the bell, Facebook reported its financial results for Q1 2020.
According to Facebook’s press release, here were the operational and financial highlights:
- Facebook daily active users (DAUs) were 1.73 billion on average for March 2020, which is an 11% year-over-year.
- Facebook monthly active users (MAUs) were 2.60 billion as of 31 March 2020, a 10% year-over-year.
- Capital expenditures were $3.66 billion for Q1 2020.
- Cash, cash equivalents, and marketable securities were $60.29 billion as of 31 March 2020.
- Headcount was 48,268 as of 31 March 2020, which is a 28%year-over-year increase.
For Q1 2020, total revenue was $17.73 billion (18% year-over-year change); the Street was expecting $17.48 billion.
As for earnings per share (EPS), this was $1.71 (analysts were expecting $1.75).
Mark Zuckerberg, Facebook founder and CEO, had this to say:
“Our work has always been about helping you stay connected with the people you care about. With people relying on our services more than ever, we’re focused on keeping people safe, informed and connected…
“In response to the COVID-19 pandemic, Facebook is supporting the global public health community’s work to ensure everyone has access to accurate information.
We are also working to address the long-term impacts of the crisis by supporting industries in need and making it easier for people to find and offer help in their communities.
We have committed over $300 million to date in investments to help our broader community during the crisis, including creating a $100 million grant program to help small businesses and investing $100 million to support the news industry.
We launched a COVID-19 information center on Facebook to provide real-time information, health and well-being tips, and the ability to offer and ask for help.
We are also matching $20 million in donations to support COVID-19 relief efforts, providing health organizations with free ads and tools to track the pandemic, offering Workplace to government and emergency organizations for free, and donating $25 million to support healthcare workers on the front lines.
To help people stay connected as a record number of people use our services, we are making our apps more efficient and adding capacity, while also prioritizing enhancements in key services, such as real-time video experiences and live game-streaming.”
According to data from Google Finance, in after hours, Facebook stock (NASDAQ: FB), which closed at $194.19 (up 6.17%) during the regular session, is trading at $211.55, up $17.36 (or 8.94%):
