Investing.com – Shares of Facebook edged lower in afterhours trade on Wednesday, despite a strong quarterly report from the tech giant, as it beat estimates on both top and bottom lines.
The tech giant reported earnings-per-share of $1.04 per share on $8.03 billion in revenue against analysts’ expectations of earnings-per-share of $0.87 per share on $7.84 billion in revenue.
Monthly active users (MAUs), one of the metrics that analysts use to gauge the health of the company, increased to 1.94 billion in the first quarter, compared to analysts’ expectations of a 1.91 billion increase.
Daily active users (DAUs), showed robust growth for the quarter, rising to 1.28 billion, above expectations of a 1.26 billion increase.
Facebook CEO, Mark Zuckerberg said the company made a “good start” to 2017 and highlighted that the focus remained on building tools to support a “strong global community”.
Facebook Inc (NASDAQ:FB) traded at $150.42 down 0.96% in afterhours trade, after closing 0.64% lower at $151.80.