Facebook Announced First Quarter Financial Results for 2018

Facebook, Inc. (NASDAQ: FB) today reported financial results for the quarter ended March 31, 2018.  "Despite facing important challenges, our community and business are off to a strong start in 2018," said Mark Zuckerberg, Facebook founder and CEO. "We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together."

Daily active users were 1.45 billion on average for March 2018, an increase of 13% year-over-year.  Monthly active users were 2.20 billion as of March 31, 2018, an increase of 13% year-over-year.  Mobile advertising revenue represented approximately 91% of advertising revenue for the first quarter of 2018, up from approximately 85% of advertising revenue in the first quarter of 2017.  Capital expenditures for the first quarter of 2018 were $2.81 billion.  Cash and cash equivalents and marketable securities were $43.96 billion at the end of the first quarter of 2018.  In April, the company increased the share repurchase program amount by $3 billion, making it a total of $9 billion.

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