Facebook outperforms analysts’ expectations

Reporting its first quarter results, the company beat Wall Street’s expectations for revenue and earnings. Facebook increased sales by 52% to $5.38 billion and reported $1.51 billion in profit, a nearly 200% jump from the year-ago period. Facebook’s stock was up almost 10% in after-hours trading.

Next to disappointing Apple and Twitter news, Facebook is clearly winning the race for now.

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