Facebook Unchanged After Q1 Miss
Facebook (NASDAQ: FB) released its fiscal first-quarter earnings results after the closing bell on Wednesday.
The company barely missed Wall Street earnings estimates, although revenue came in better than expected. In late trading, the stock was essentially unchanged at $27.48.
The company reported net income of $219 million or $0.09 per share, compared to $205 million or $0.09 per share, in last year's corresponding quarter.
On an adjusted basis, Facebook's net income for Q1 was $312 million or $0.12 per share, versus $287 million or $0.12 per share, in last year's first-quarter. This missed consensus EPS estimates of $0.13 by a penny.
Revenue in the period was up 38 percent to $1.46 billion from $1.06 billion last year. This came in slightly ahead of street consensus estimates of $1.44 billion.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.