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<<<..Facebook crushes estimates, stock rises


MARKETWATCH 4:36 PM ET 04/23/14

Symbol Last Price Change
FB 61.36 -1.6701 (-2.65%)
QUOTES AS OF 04:00:00 PM ET 04/23/2014

SAN FRANCISCO (MarketWatch) - Facebook Inc.(FB) on Wednesday reported a first-quarter profit of $642 million, or 25 cents a share, compared with a profit of $219 million, or 9 cents a share, for the year-earlier period. Revenue soared to $2.5 billion from $1.46 billion. Adjusted profit was 34 cents a share. Analysts polled by FactSet on average were expecting the Menlo Park, Calif.-based company to report a profit of 24 cents a share, on revenue of $2.36 billion. Facebook(FB) shares were up more than 2% after hours. The company also announced that Chief Financial Officer David Ebersman was stepping down. He will be replaced by David Wehner, currently vice president for corporate finance.

-Benjamin Pimentel; 415-439-6400; [e-mail]

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04-23-141636ET
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