Facebook Revenue Beats, But Earnings Miss

Facebook posted revenue that surpassed Wall Street forecasts, but earnings were a penny light. Nonetheless, the stock jumped after-hours.

Revenue rose 38 percent to $1.46 billion from the $1.06 billion booked in the year-earlier quarter.

Analysts had expected Facebook to post a profit of 13 cents per share on revenue of $1.44 billion, according to consensus estimates from Thomson Reuters.

The company also said that its quarterly revenue from advertising totaled $1.25 billion, up 43 percent from a year ago. Mobile advertising revenue represented about 30 percent of advertising revenue in the quarter.

Non-GAAP expenses rose 56 percent in the quarter to $895 million. It's non-GAAP operating margin also shrank to 39 percent from 46 percent.

Daily and monthly active users were also up during the quarter. Daily active users were 665 million on average for March 2013, an increase of 26 percent from a year earlier. Monthly active users were 1.11 billion as of March 31, 2013, an increase of 23 percent.

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image: © West McGowan