Facebook Sees Mixed Quarterly Earnings Results

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Wall Street analysts were expecting Facebook to earn 40 cents per share on revenue of $3.6 billion.

Facebook posted mixed results Wednesday for its first quarter, reporting 42 cents per-share in earnings, minus certain items, on $3.5 billion in revenue.

Wall Street analysts were expecting Facebook to earn 40 cents per share on revenue of $3.6 billion.

Shares of the giant social-network company were falling 2 percent in after-hours trading on Wednesday.

Facebook said its daily active users on average in March was 936 million, up 17 percent over the same month a year ago. Mobile daily active users, though, surged 31 percent to 798 million in March.

As usual, the vast majority of Facebook's revenue came from advertising, which made up $3.3 billion of the company's total sales in its first quarter. Ad sales were up 46 percent quarter-over-quarter but would have climbed 55 percent if not for fluctuating foreign-exchange rates.

In regular trading on Wednesday, Facebook shares rose 1 percent to $84.63. The stock is up 230 percent in the past two years.

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