Earlier, Facebook Inc fell by nearly 10% since the start of 2018 because of the data leak, making it the technology giant with the biggest decline.
Now, the release of a financial report sweeps the clouds. Last night, Facebook Inc rose 7.33% in after-hours trading, and his market capitalization almost returned to the $500 billion mark, surpassing stock king Tencent and Berkshire, which surpassed Warren Buffett to become the fifth market capitalization company in the world.
Net profit increased by 63%, and the number of monthly active users exceeded 2.2 billion.
Fortune learned that Facebook released its first-quarter 2018 results in the early hours of April 26, with total revenue of $11.966 billion, higher than the average analyst estimate of $11.41 billion, up 49% from $8.032 billion in the same period last year, and net profit of $4.988 billion, up nearly 63% from $3.064 billion in the same period last year.
In terms of user growth, the number of monthly active users rose 13% year-on-year to 2.2 billion, breaking the 2.2 billion mark for the first time.
The number of daily active users rose 13% year-on-year to 1.45 billion, while the number of daily active users reversed the decline in the previous quarter. (in the fourth quarter of 2017, the number of daily active users in the United States and Canada showed negative growth. At present, it has increased to 185 million from 184 million in the fourth quarter of last year.
Facebook shares rose 7.33% in after-hours trading, driven by results.
Source of after-hours quotation: Futu Securities
Futu Information also learned that as of the first quarter, the number of employees was 27742, an increase of 48% over the same period last year and a rapid growth. In addition, Facebook Inc will increase the amount of money approved for share buybacks by another $9 billion, compared with $6 billion initially approved for share buybacks.
"despite important challenges, our community and business continued to perform strongly in the first quarter of 2018 and will pay more attention to our responsibilities and invest in the right services," Zuckerberg said. But we still need to constantly build new tools to help people connect with each other, strengthen communities and make the world closer. "
Berkshire, which surpasses Warren Buffett, returns to the world's fifth market capitalization company.
At the price of 7.33%, Facebook Inc's latest market capitalization is about $496.7 billion, which will surpass the Berkshire of Warren Buffett ($485.7 billion) and widen the gap with Tencent to more than $30 billion.
Source: Futu Securities (April 25 after-hours data)
It is worth mentioning that among the giants, in addition to Facebook Inc, the biggest decline in 2018 is Tencent. As Tencent's annual report released in March was weaker than expected and affected by the reduction of major shareholders, the stock price has fallen by up to 19% (from the end of January to the present), and the market capitalization has also fallen below US $500 billion, which has been surpassed by Facebook Inc.
And the brightest rising trend is Amazon.Com Inc. Major negative positions such as the rise in US bond yields, the trade war, and Trump's "strong grievance" have not had a significant impact on Amazon.Com Inc. The stock price is still climbing all the way, and the market capitalization has also stood at the US $700 billion mark. It is now the fourth largest company in the world by market capitalization. (editor / Golden Forest)