Facebook 1Q Earnings Snapshot

MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported first-quarter earnings of $2.43 billion.On a per-share basis, the Menlo Park, California-based company said it had net income of 85 cents.The results missed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.The social media company posted revenue of $15.08 billion in the period, beating Street forecasts. Twelve analysts surveyed by Zacks expected $14.97 billion.Facebook shares have risen 39 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 17 per cent. In the final minutes of trading on Wednesday, shares hit $182.59, a rise of 14 per cent in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FB at https://www.zacks.com/ap/FBThe Associated Press read more