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Facebook reported on record growth of quarterly earnings

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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

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