Facebook beats Q1 EPS by 24 percent on $5.38B in revenue

The company now has 1.09 billion daily users, and 1.65 billion monthly active users

Shares of Facebook are up 7 percent in after-hours trading, after the company posted first-quarter results that handily beat Wall Street expectations on Wednesday. 

Facebook saw revenue of $5.38 billion for the quarter, beating Wall Street's estimates of $5.26 billion by 2.2 percent. Adjusted earnings per share came in at 77 cents in the quarter, 24 percent higher than the 62 cents a share that analysts had been expecting.

The company had seen modest gains during regular trading, with its stock going up 0.12 percent, or $0.13, to $108.89 a share. 

"We had a great start to the year," said Mark Zuckerberg, Facebook founder and CEO, said in a statement. "We're focused on our 10 year roadmap to give everyone in the world the power to share anything they want with anyone."

Advertising revenue was $5.2 billion for the quarter, an increase of 57 percent year-to-year. 82 percent of that came from mobile, up from 73 percent in the first quarter of 2015. Revenue from payments and fees for the quarter was $181 million, a 20 percent decrease year-to-year.

GAAP net income was $1.5 billion, while non-GAAP net income for the quarter was $2.2 billion.

Daily active users (DAUs) were 1.09 billion on average, an increase of 16 percent year-over-year, while mobile DAUs were 989 million on average, an increase of 24 percent. 

Monthly active users (MAUs) were 1.65 billion on average, an increase of 15 percent year-over-year, while mobile MAUs were 1.51 billion on average, an increase of 21 percent.

(Image source: benzinga.com)