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Shares of the world's biggest online social network jumped more than 10 percent to $200.50 in after-hours trade. They have now regained much of the ground lost last year amid slowing growth and costs associated with the company's privacy scandals.
The settlement accrual, which Facebook set at $3 billion but said could rise as high as $5 billion, cut the company's net income in the first quarter to $2.43 billion, or 85 cents per share.
Excluding the charge, Facebook would have earned $1.89 a share, up from $1.69 in the year-ago quarter and easily beating analysts' average estimate of $1.63 per share, according to IBES<\/a> data from Refinitiv.
Total first-quarter revenue rose 26 percent to $15.1 billion from $12.0 billion last year, again beating analysts' average estimate of $15.0 billion.
\"This is a strong report suggesting that advertisers still see value in Facebook's platform, as they did before the controversies and scandals erupted,\" said Haris Anwar, senior analyst at financial markets platform Investing.com.
Monthly and daily users of the main Facebook app were both up 8 percent compared to last year, to 2.4 billion and 1.6 billion, respectively, in line with forecasts.
Total expenses in the first quarter were $11.8 billion, including the settlement accrual, up 80 percent compared with a year ago as the company hired content moderators and invested in new security controls to make its social networks safer.
Executives said in a conference call with investors that they expected expenses to grow 47 to 55 percent this year, updating their earlier forecast of an increase of 40 to 50 percent.
The first-quarter operating margin fell to 22 percent from 46 percent a year ago, but would have been a comfortable 42 percent without the one-time expense.
BIGGEST PENALTY
The U.S. Federal Trade Commission has been investigating revelations that Facebook inappropriately shared information belonging to 87 million of its users with the now-defunct British political consulting firm Cambridge Analytica<\/a>. The probe has focussed on whether the sharing of data and other disputes violated a 2011 agreement with the FTC to safeguard user privacy.
A settlement of between $3 billion and $5 billion would be the largest civil penalty ever paid to the agency, said David Vladeck<\/a>, a former FTC official who is now a professor at Georgetown Law School.
\"Everyone expected there would be a substantial civil penalty in this case,\" said Vladeck. \"There's no question that Facebook is going to have to settle this matter. Investors want this behind them.\"
Even once the FTC probe is resolved, other challenges remain. The number of Facebook users barely budged in the United States, Canada and Europe, indicating saturation in the company's most lucrative markets.
Its largest and fastest-growing user base is now in Asia, where monthly active users jumped 12.4 percent from last year. The region represents nearly half of all Facebook users, but brought in less than a fifth of the company's revenue.
That shift in geography, along with slow advertiser adoption of new services like Stories, resulted in a 4 percent decline in the average price per ad in the first quarter.
Facebook plans to shift focus toward private communications, integrating its messaging services across Facebook, Instagram and WhatsApp<\/a>, but has not yet articulated how it will adapt its advertising-driven business model.
The company launched a sales system last month that enables users to purchase products directly on Instagram and is testing a WhatsApp payments system in India that it plans to roll out to other countries, Chief Executive Mark Zuckerberg<\/a> said.
\"In countries where we already are the leading platform there will be more ability to work on things like payments in the near term and build in additional ways that people want to interact privately,\" he said. But the services would not be a \"major driver\" of Facebook's business for at least a couple of years, he said.
Facebook also faces the prospect of action by lawmakers, with some calling for federal privacy regulation and anti-trust action to break up big tech companies.
Representative David Cicilline, who chairs the U.S. House of Representatives Judiciary Committee's subcommittee on antitrust issues, said on Twitter that Facebook was \"a repeat offender\" and called for an FTC response \"strong enough to prevent future violations.\"
\"A fine in the low billions of dollars would amount to a slap on the wrist for Facebook. Tonight, we learned that's how Wall Street sees it too - as a slap on the wrist. If the FTC won't act, Congress has to,\" he said.
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世界上最大的在线社交网络的股价跳涨逾10%至200.50美元,盘后交易中。他们去年已经收复了大部分失地,经济增长放缓和成本与公司相关的隐私丑闻。
结算利息,Facebook设定在30亿美元,但表示将上升高达50亿美元,减少了公司第一季度净利润24.3亿美元,或每股85美分。
扣除费用,Facebook将每股收益为1.89美元,高于去年同期的1.69美元,容易超过分析师平均预估每股亏损1.63美元,据ib来自Refinitiv的数据。
第一季度收入增长26%至151亿美元总额从去年的120亿美元,超过分析师平均预计的150亿美元。
“这是一个强烈的报告还表明广告商看到价值在Facebook的平台,就像在争议和丑闻爆发之前,”哈里斯瓦尔说,金融市场高级分析师平台Investing.com。
每月和每日主要Facebook应用程序的用户都是与去年相比上涨了8%,24亿年和16亿年,分别符合预期。
第一季度总费用为118亿美元,包括结算利息,与去年同期相比上涨了80%,公司聘请了内容版主和投资于新的安全控制使其社交网络更安全。
高管在与投资者的电话会议上表示,他们预计费用今年47岁增长到55%,更新他们的早期预测增加40 - 50%。
第一季度的营业利润率从一年前的46%跌至22%,但会是一个舒适的42%没有一次性费用。
最大的惩罚
美国联邦贸易委员会一直在调查披露,Facebook不当属于8700万的用户共享信息与现在英国政治咨询公司剑桥—。调查集中在共享数据和其它纠纷是否违反了与联邦贸易委员会在2011年达成的一项协议,保护了用户的隐私。
30亿美元和50亿美元之间的解决将是有史以来最大的民事处罚的机构说大卫Vladeck前美国联邦贸易委员会官员现在是乔治敦大学法学院教授。
“每个人都将会有大量的民事处罚在这种情况下,“Vladeck说。“毫无疑问,Facebook将不得不解决这个问题。投资者希望这背后。”
即使美国联邦贸易委员会调查解决,其他的挑战依然存在。Facebook用户的数量几乎纹丝未动,在美国,加拿大和欧洲,表明在公司最赚钱的市场饱和。
现在其最大和发展最快的用户群是在亚洲,在月度活跃用户较去年增长了12.4%。该地区代表将近一半的Facebook用户,但带来了不到五分之一的公司的收入。
这种地理上的变化,以及缓慢的广告商采用新服务,如故事,导致平均价格下降4%每一季度广告。
Facebook计划重点转向私人通讯、集成的信息服务在Facebook, InstagramWhatsApp,但尚未明确如何适应其广告商业模式。
上个月该公司发起了一项销售系统,使用户能够直接购买产品Instagram,测试一个WhatsApp支付系统在印度,它计划推出到其他国家,首席执行官马克•扎克伯格说。
”在我们的平台已经领先的国家将会有更多的工作能力在短期内支付和构建额外的方式,人们想要私下交流,”他说。但是服务不会是一个“主要驱动力”的Facebook的业务至少两年,他说。
Facebook也面临国会采取行动的可能性,与一些呼吁联邦隐私监管和反垄断行动打破大科技公司。
代表David Cicilline美国众议院司法委员会主席的委员会反垄断问题,在推特上说,Facebook是“惯犯”,并呼吁美国联邦贸易委员会回应“强大到足以防止未来的侵犯。”
“低数十亿美元的罚款金额为Facebook轻微的处罚。今晚,我们知道,这就是华尔街如何看待它——轻微的处罚。如果联邦贸易委员会不会采取行动,国会,”他表示。
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