Facebook Beats Q1 Estimates, Earnings Cross $5 Billion And Users 1.65 Billion

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In its first quarter earnings report, Facebook reported a revenue of $5.38 billion, earning 77 cents per share thereby shattering investor estimates of about 62 cents per share on $5.26 billion in revenue.

Revenues increased 52% from $3.54 billion during the same period last year. Net profit, on the other hand, almost jumped three times from $512 million, or 18 cents a share during Q1 2015 to $1.51 billion, or 52 cents a share in this quarter.

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