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Facebook crushed first quarter earnings out of the park last night

Facebook reported its first quarter earnings last night, beating out analyst estimates on both the top and bottom lines. Wall Street was looking for $0.62 earnings per share on $5.26 billion in revenue, and Facebook knocked a homer out of the park noting $0.77 earnings per share on $5.38 billion in revenue.

That wasn’t it, though. Facebook put a cherry on top, too, and Wall Street loves desserts.

Facebook said it had 1.64 billion month active users (MAU), showing not only quarter-over-quarter growth but also growth over the year-ago quarter and again beating analyst estimates. That’s one indicator investors pay attention to since it shows how many people are using the Facebook and how many people are coming or going (in this case going). Facebook has worked hard to build that figure with new applications, a trending news section and more.

Wall Street remains bullish on the company; shares of Facebook are currently trading nearly 10 percent from last night’s $108.89 closing price.

SOURCE CNBC