Facebook’s surging ad revenue helps shatter Wall Street’s Q1 earnings projections
Facebook skyrocketed past financial analysts' estimates when it released its first quarter (Q1) earnings reports on April 27, Wednesday. The world's largest social network earned 77 cents per share based on revenue of around $5.4 billion, which is about 2.3 percent higher than analysts' projections. In addition, mobile ad revenue made up around 82 percent of Q1, which showed a year-over-year increase of 9 percent.