Shares of Facebook surged more than 6 percent in after-hours trading on Wednesday after the social media behemoth crushed expectations for itsquarterly earnings.
Facebook posted $5.38 billion in revenue for Q1 2016, up from $3.5 billion just a year ago, beating expectations of $5.25 billion. The company also posted earnings per share of $0.77, up from $0.42 a year ago, beating expectations of $0.62.
“We had a great start to the year,” Facebook CEO Mark Zuckerberg said in a statement. “We’re focused on our 10 year roadmap to give everyone in the world the power to share anything they want with anyone.”
