Facebook is surging after crushing on earnings and adding more users than expected (FB)
Markets Insider
Facebook blew past Wall Street's expectations on almost every key metric in the first quarter.
Shares are spiking in pre-market trading.
Facebook shares are spiking in early trading Thursday, up 7.88% to $173.27 a share, after the company reported better-than-expected first-quarter earnings.
Facebook said it earned a $1.69 a share on revenue of $11.97 billion, topping Wall Street's expectations of $1.35 and $11.4 billion.
Daily active users came in at 1.45 billion, in line with analyst estimates of 1.45 billion. But monthly active users jumped 13% year-over-year to 2.2 billion, beating estimates of 2.19 billion.
Facebook is down about 8% so far this year.
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