Facebook today reported earnings for its first fiscal quarter of 2020, including revenue of $17.74 billion, and net income of $4.9 billion, compared to revenue of $15.1 billion, and net income of $2.43 billion billion in Q1 2019. Year-over-year revenue is up 17%. From a report: In a call with analysts after the close of markets today, Facebook CEO Mark Zuckerberg said, “For the first time ever, there are now more than 3 billion people actively using Facebook, Instagram, WhatsApp, or Messenger each month.” That’s up from 2.99 billion people on March 31. Use of the main Facebook app grew 10% up from 2.38 billion in Q1 2019 to 2.6 billion. Daily active users are also up 11%. Facebook earnings beat analyst estimates that predicted Facebook would earn $17.5 billion in revenue and report earnings per share of $1.74. Alphabet, which also draws the majority of its revenue from advertising, also announced earnings above analysts estimates on Tuesday.

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Source:: Slashdot