Stock market quotes, forex, financial news, forex tools – money-investing.com

Facebook reported on record growth of quarterly earnings

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
Facebook reported on record growth of quarterly earnings
April 30
09:00 2020

Facebook’s  financial statements have been published. The main product of the American company is the popular social network of the same name. So, for the first quarter, the net profit of the corporation has doubled and turned out to be equal to 4.902 billion US dollars (1.71 US dollars per share). For the same period last year, the figures were as follows: the net profit was equal to $ 2,429 billion, or $ 0.85 in terms of one share.

Revenues have increased too. The growth has totaled 18%, in absolute figures – $ 17.737 billion, compared with $ 15.077 billion a year ago.

The consensus forecast was excellent, but the reality has turned out to be even better. Analysts believed earnings would be $ 1.74 per share.

The regime of self-isolation, spreading almost across the world, has become an obvious reason for such impressive financial results. In late March, the number of active users of the popular social platform grew to 2.6 billion people. Thus, the annual growth rate has totaled 10%. 1.73 billion people use the network daily; an increase has amounted to 11%.

The main Facebook’s source of income is advertising. The company has managed to get US $ 17.44 billion; an increase is equal to 17%. The company’s expenses have amounted to 11.844 billion US dollars; this means that they have grown only by 1%. The company’s staff has increased by 28% over the year; now about 48 thousand people work for the company benefit. 

Due to such strong reporting, Facebook stock quotes have jumped 10.5%.

Over the past year, the company’s capitalization has grown by 0.6%, at the moment its value is 521 billion US dollars.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment