Though met with a whole lot of scandals recently, Facebook has managed to beat its profit expectations for Q1. After the Q1 profit reports of the social media giant is out, the company has made a profit of $11.97 billion. This has easily beaten the estimates of $11.4 billion, which the company had forecasted. Incidentally, the adjusted earnings per share too has beaten the expectations of $1.35, and stands at $1.69 in Q1.
According to the reports, Facebook has got 1.45 billion daily active users in March 2018, while an active monthly user base of 2.2 billion in Q1. However, the company’s revenue from advertisements, met a decrease as the company earned $11.8 billion in Q1, as against the 2017 Q4 figure of $12.7 billion. Meanwhile, Facebook has turned down an invitation from the U.S House of Representatives hearing to testify on filtering practices by social media companies.