Social Network, Facebook had shares soared to record highs for the company in after-hours trading after its latest financial results beat anticipations,as profit rose in 3-folds.
The social network, also behind
Instagram, reporting net profits of $1.5bn [N298B] compared to over $500m [N99B] in the same period last year.
Total revenue rose to $5.4bn from $3.5bn while daily active users hit 1.1 billion on average in March up 16% with those using mobile devices nearing the one billion mark at 989 million.
This is reported to mark an increase by 24%.
“We had a great start to the year we’re focused on our 10-year roadmap to give everyone in the world the power to share anything they want with anyone.” Facebook CEO, Mark Zuckerberg told investors.