Facebook Inc FB reported quarterly earnings of $1.71 per share on Wednesday, which missed the analyst consensus estimate of $1.74. This is a 9.52% decrease over earnings of $1.89 per share from the same period last year.
The company reported quarterly sales of $17.737 billion, which beat the analyst consensus estimate of $17.480 billion. This is a 17.64% increase over sales of $15.077 billion the same period last year.
Daily active users (DAUs) came in at 1.73 billion, up 11% year over year, and monthly active users (MAUs) came in at 2.6 billion, up 10% year over year.
The company says in response to the coronavirus (COVID-19) pandemic, Facebook is working to support those industries in need and making it easier for people to find and offer help in their communities.
The company says it has committed over $300 million to date in investments to help its 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.
"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."
Facebook shares traded up 6.2% at $194.19 on Wednesday, and traded higher by more than 8% to the $210 level in the after-hours session. The stock has a 52-week range between $224.20 and $137.10.
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