Wall Street was enamored Thursday morning with Facebook's first-quarter earnings report, with a handful of brokerages lauding its results.
Wall Street was enamored Thursday morning with Facebook's first-quarter earnings report, with a handful of brokerages lauding the company's cash flow, user growth and revenue.
"What a start to 2019," Nowak wrote in a note to clients. The strong result"speaks to the strength of its engagement, ad offering and ability to drive earnings power ... even while aggressively investing to improve its platform." Facebook's profit, revenue and user numbers hit record highs during the quarter. Facebook shares closed at $182.58 on Wednesday."While 2019 remains a year of transition, FB mgmt has now produced multiple quarters with ahead of consensus revenue/EPS performance . Instagram is now one of the Internet's large scaled digital ad platforms that can sustain growth & operating leverage for years to come.
"We believe 1Q represents another qtr in which FB showed its ability to maintain strong engagement & also effectively manage revenue deceleration, which should give the Street increased confidence going forward. We continue to believe that FB can deliver 20's% revenue growth in 2020 w/moderating expense growth, driving strong re-acceleration in earnings growth next year—we model ~17% growth ex-accrual.
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