Facebook - Earnings - Stocks - 001

Facebook just reported its earnings for the first quarter of 2014. Facebook beat analyst estimations with an earnings per share 34 cents on revenue of $2.5 billion. Wall Street was looking for an earnings per share (EPS) of 24 cents on revenue of $2.36 billion.

The company also announced that its chief financial officer David Ebersman is leaving on June 1 after 5 years with the company and will be replaced by David Wehner, who is currently the social network’s vice president of corporate finance and business planning.

Facebook posted nice active user growth across the board. Facebook now serves 802 million daily active users, up 21 percent from the first quarter of 2013. It also has 609 million mobile daily active users, up 43 percent, 1.28 billion monthly active users, up 15 percent year-over-year, and 1.01 billion mobile monthly active users, up 34 percent year-over-year.

Total revenue from advertising was up 82 percent year-on-year at $2.27 billion. Mobile ad revenue made up 59 percent of all ad revenue and jumped 30 percent from the same period last year.

Shares of Facebook are currently up about 2 percent in after hours trading after closing the day down 2.65 percent at $61.35.

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