Facebook recorded a revenue of $26.171 billion in the first quarter of 2021, up 48% from the same quarter of 2020, according to the company’s press release. Diluted earnings per share rose 93% to $3.30 from $1.71 in the comparable quarter of 2020.
Facebook’s net income came at $9.5 billion, up 94% from $4.9 billion in the comparable quarter of 2020.
Average daily active users in March were 1.88 billion, up 8% year over year.
Monthly active users as of March 31, 2021, were 2.85 billion, up 10% year over year.
Average family daily active people in March came at 2.72 billion, up 15% year over year.
Family monthly active people at the end of March were 3.45 billion, up 15% year over year.
Facebook recorded strengths in its advertising revenue, fueled by a 30% year-over-year growth in average price per ad and a 12% surge in the ads delivered.
The social media giant expects its second quarter revenue growth to accelerate moderately.
The company expects revenue growth in Q3 and Q4 to decline sequentially.
There is an expectation of ad targeting challenges this year on regulatory and platform changes.
Facebook projects $70-73 billion total expenses this year, up from a prior outlook of $68-73 billion.
Capital expenses are expected in the $19-21 billion range, down from the previous outlook of $21-23 billion.
Facebook stock is currently gaining. FB: NASDAQ is up 7.00% on premarket.
