NEW YORK -- Facebook (FB), the social networking giant, posted first-quarter earnings on Wednesday that were mixed compared to Wall Street's expectations.
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) 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) 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), 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) is expected to post quarterly profit of 31 cents a share.
-- Written by Joseph Woelfel
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