Facebook Q1 Profit Tops Estimate; Revenue Falls Shy

(RTTNews) - Facebook, Inc. (FB) reported net income for the first quarter of $512 million or $0.18 per share, compared to $642 million or $0.25 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $1.19 billion or $0.42 per share, compared to $926 million or $0.35 per share in the prior year quarter.

Revenue for the first quarter rose 42% to $3.54 billion from $2.50 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.40 per share on revenue of $3.56 billion for the first quarter. Analysts' estimates typically exclude special items.