Facebook EPS Short - Revenue Tops
April 30, 2020
Facebook reported financial results for the quarter ended March 31,
2020. Facebook noted earnings (EPS) of $1.71 with revenue of $17.74
Wall Street expected $1.75 in
earnings per share and $17.41 billion in revenue for the first quarter.
"Our work has always been about helping you stay connected with the
people you care about," said Mark Zuckerberg, Facebook founder and CEO.
"With people relying on our services more than ever, we're focused on
keeping people safe, informed and connected."
Response to COVID-19 Pandemic
In response to the COVID-19 pandemic, Facebook is supporting the global
public health community's work to ensure everyone has access to accurate
information. We are also working to address the long-term impacts of the
crisis by supporting industries in need and making it easier for people
to find and offer help in their communities. We have committed over $300
million to date in investments to help our broader community during the
crisis, including creating a $100 million grant program to help small
businesses and investing $100 million to support the news industry.
We launched a COVID-19 information center on Facebook to provide
real-time information, health and well-being tips, and the ability to
offer and ask for help. We are also matching $20 million in donations to
support COVID-19 relief efforts, providing health organizations with
free ads and tools to track the pandemic, offering Workplace to
government and emergency organizations for free, and donating $25
million to support healthcare workers on the front lines.
To help people stay connected as a record number of people use our
services, we are making our apps more efficient and adding capacity,
while also prioritizing enhancements in key services, such as real-time
video experiences and live game-streaming.
First Quarter 2020 Financial
In millions, except
percentages and per share amounts
First Quarter 2020
Operational and Other Financial Highlights
active users (DAUs) – DAUs were 1.73 billion on average for March
2020, an increase of 11% year-over-year.
- Facebook monthly
active users (MAUs) – MAUs were 2.60 billion as of March 31, 2020,
an increase of 10% year-over-year.
- Family daily active
people (DAP) – DAP was 2.36 billion on average for March 2020, an
increase of 12% year-over-year.
- Family monthly
active people (MAP) – MAP was 2.99 billion as of March 31, 2020, an
increase of 11% year-over-year.
- Capital expenditures
– Capital expenditures, including principal payments on finance
leases, were $3.66 billion for the first quarter of 2020.
- Cash and cash
equivalents and marketable securities – Cash and cash equivalents
and marketable securities were $60.29 billion as of March 31, 2020.
Following the end of the quarter, we entered into an agreement to
invest in Jio Platforms Limited, a subsidiary of Reliance Industries
Limited, for approximately $5.7 billion, and we paid the $5.0
billion settlement amount due under our modified consent order with
the FTC, which took effect in April 2020.
- Headcount –
Headcount was 48,268 as of March 31, 2020, an increase of 28%