Facebook earned 12 cents a share in the quarter on revenue of $1.46 billion, an increase of 38% year over year, led by strength in mobile advertising, which accounted for 30% of total advertising revenue.
Facebook was forecast by analysts to earn 13 cents a share on a non-GAAP basis, with revenue coming in at $1.44 billion.
Mobile users continued to grow, and mobile monthly active users (MAUs) grew to 751 million, with total daily active users reaching 1.1 billion.Facebook Misses Q1 Earnings Estimates
General Motors (GM - Get Report) is expected by analysts on Thursday to post first-quarter earnings of 54 cents a share on revenue of $36.6 billion. GM said sales in April rose 11% to 237,646, its best April since 2007. Ford and GM Sales Rise, Led by Pickup Trucks
Visa (V - Get Report) on Wednesday posted quarterly net income of $1.27 billion, or $1.92 a share, compared with net income of $1.29 billion, or $1.91 per share, a year earlier. Revenue rose nearly 15% to $2.96 billion. Visa said credit card transactions processed over its network totaled $13.9 billion, an increase of 6% from a year earlier.
Royal Dutch Shell (RDS.A) said first-quarter net profit fell to $8.18 billion from $8.74 billion as revenue declined 5.1% to $112 billion because of lower oil prices. The oil giant also announced CEO Peter Voser, 54, would step down in early 2014; a search for a new CEO is underway.
AIG (AIG - Get Report), the insurance company, is forecast by analysts to post first-quarter earnings of 87 cents a share on revenue of $8.64 billion.
Kellogg (K) is expected by Wall Street on Thursday to report first-quarter profit of $1.02 a share on revenue of $3.94 billion.
LinkedIn (LNKD - Get Report) is expected to post quarterly profit of 31 cents a share.
-- Written by Joseph Woelfel
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