Facebook Weathers Coronavirus, as Advertising Revenue Holds Up
Posted on 04/29/2020
Facebook released its first quarter 2020 financial results. The social media company says it experienced a significant reduction in the demand for advertising, as well as a related decline in the pricing of its ads, over the last three weeks of the first quarter of 2020. Facebook generated US$ 17,440,000,000 in advertising revenue the first quarter of 2020 versus US$ 14,912,000,000 in ad revenue for the first quarter of 2019.
First Quarter 2020 Operational and Other Financial Highlights
Facebook daily active users (DAUs) – DAUs were 1.73 billion on average for March 2020, an increase of 11% year-over-year.
Facebook monthly active users (MAUs) – MAUs were 2.60 billion as of March 31, 2020, an increase of 10% year-over-year.
Family daily active people (DAP) – DAP was 2.36 billion on average for March 2020, an increase of 12% year-over-year.
Family monthly active people (MAP) – MAP was 2.99 billion as of March 31, 2020, an increase of 11% year-over-year.
Capital expenditures – Capital expenditures, including principal payments on finance leases, were $3.66 billion for the first quarter of 2020.
Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $60.29 billion as of March 31, 2020.
At the end of the 1st quarter, Facebook inked a deal to invest in Jio Platforms Limited, a subsidiary of Reliance Industries Limited, for approximately US$ 5.7 billion. Facebook also paid the US$ 5 billion settlement amount due under its modified consent order with the FTC, which took effect in April 2020.
Facebook’s headcount was 48,268 as of March 31, 2020, an increase of 28% year-over-year.
