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Facebook Q1 earnings per share $1.04

Staff Writer |
Facebook reported first quarter earnings. The company reported earnings per share of $1.04 on revenue of $8.03 billion.

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Facebook also said it will no longer report earnings on an adjusted, or non-GAAP, basis.

Monthly active users totaled 1.94 billion while daily active users hit 1.28 billion. Expectations were for these numbers to hit 1.9 billion and 1.26 billion, respectively.

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

Facebook added that in the first quarter, mobile advertising revenue represented approximately 85% of advertising revenue, up from approximately 82% of advertising revenue in the first quarter of 2016.

As of the end of the first quarter, the company held about $32 billion in cash and equivalents, and its headcount was 18,770, up 38% from last year.

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