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Facebook Q1 adjusted EPS $.77, revenue $5.38 billion

Staff writer |
Facebook reported first-quarter results with adjusted first quarter earnings of $0.77 per share on revenue of $5.38 billion.

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Quarterly profit tripled to $1.5 billion. Facebook said that monthly active users ere 1.65 billion at the end of the first quarter.

Facebook is proposing the creation of new class C shares. If the proposal is approved, shareholders would get two C shares for each class A or class B share they own.

"This proposal is designed to create a capital structure that will, among other things, allow us to remain focused on Mr. Zuckerberg's long-term vision for our company and encourage Mr. Zuckerberg to remain in an active leadership role at Facebook," the company said.

The adoption of the proposal is subject to the approval of Facebook shareholders at its 2016 annual meeting of Stockholders in June, the company said.

Mobile advertising revenue represented approximately 82% of advertising revenue for the first quarter of 2016, up from 73% of advertising revenue in the first quarter of 2015.

Capital expenditures for the first quarter of 2016 were $1.13 billion.

Cash and cash equivalents and marketable securities were $20.62 billion at the end of the first quarter of 2016.

Free cash flow - Free cash flow for the first quarter of 2016 was $1.85 billion.

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