Facebook Crushes Q1 Revenue Goal, Races Toward $1 Trillion Market Value
The social network’s stock pops 5% after reporting $26.2 billion in first-quarter sales
Sean Burch | April 28, 2021 @ 1:16 PM
Facebook on Wednesday topped Wall Street’s Q1 sales and earnings estimates when it shared its first-quarter financial report, helping push the company’s share price 5% higher in after-hours trading. The stock market bump puts Facebook within striking distance of becoming the next trillion-dollar tech giant.
Facebook reported earnings per share of $3.30, coming in well above the $2.37 EPS analysts had projected. The company also posted its second-best quarter ever in terms of sales, reporting $26.2 billion in revenue; analysts had expected 23.7 billion in Q1 sales. Facebook’s Q1 sales increased 48% from the same time last year. Net income of $9.5 billion was nearly double the $4.9 billion the company reported in Q1 2020.
New York CNN Business Since Facebook paid a whopping $19 billion to buy WhatsApp in 2014, investors have wondered how it will cash in on the acquisition, especially after the company walked back a controversial plan to sell ads on the app. On Wednesday, the company finally provided some details on how itâs using WhatsApp to drive ad sales on its other platforms, Facebook (FB) and Instagram. Businesses that use WhatsApp to communicate with customers and conduct transactions â a group considered key to the appâs future â have since 2017 been able to purchase ads on Facebook and Instagram that include a button allowing users to switch to WhatsApp and initiate a conversation with that business. CEO Mark Zuckerberg said Wednesday there are now 1 million businesses using those âclick to WhatsAppâ ads.
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A leaked Facebook memo to advertisers lays out how Apple s new iOS 14.5 will impact ad campaigns.
The memo warns that results will fluctuate and audiences will shrink.
Certain attribution tools will no longer be available.
Facebook sent a memo to advertisers April 28 detailing the effects Apple s new privacy settings will have on ad campaigns.
The memo, obtained by Insider, elaborates on an April 26 blog post advising advertisers on how to prepare for the change.
Facebook warned that the results of their ad campaigns will fluctuate, with the size of audiences shrinking as users gradually update their Apple devices in the coming weeks. Facebook and Instagram will automatically opt those users out of tracking settings.
Andrew Caballero-Reynolds/AFP via Getty Images
Facebook executives got 110% bonuses in the second half of 2020, according to a new SEC filing.
The bonuses were partially tied to Facebook s election integrity efforts.
CEO Mark Zuckerberg doesn t participate in the employee bonus program.
Facebook CEO Mark Zuckerberg s two lieutenants got a big pay day for their work around last year s election: COO Sheryl Sandberg and CFO David Wehner got just shy of $1 million in bonus compensation for the second half of 2020.
Those bonuses, awarded at 110%, were at least partially tied to election integrity efforts in connection with the U.S. 2020 elections, according to an SEC filing from the company first spotted by The Information.